Kazakhstan, China Strengthen Economic Ties With $2.5 Billion In New Investments

Kazakhstan has signed eight commercial agreements worth $2.5 billion with Chinese companies, significantly enhancing bilateral economic relations between the two countries. The agreements were signed on November 4 during Kazakh Prime Minister Olzhas Bektenov's visit to Shanghai. The agreements support a broader strategy by Kazakh President Qasym-Zhomart Toqaev and Chinese President Xi Jinping to double trade turnover, which reached a record $41 billion last year, the Kazakh prime minister's press service said. Bektenov's visit highlights China’s growing influence in Central Asia in light of Russia's traditional dominance. As China invests heavily in infrastructure and energy projects, Central Asian states are diversifying their foreign relations to reduce reliance on Moscow. At an investment roundtable, Bektenov emphasized the potential for joint projects and industrial cooperation. Major Chinese firms outlined plans to enhance operations in Kazakhstan, including energy initiatives and localized automotive production. There are already around 5,000 joint ventures between the two countries.