Kazakh President Says Central Asian States-China Trade May Reach $100Bln By 2030

ASTANA (UrduPoint News / Sputnik - 19th May, 2023) The trade between Central Asian countries and China may reach $100 billion by 2030 after a recent 19% increase in Kazakhstan's trade with the region's states, which has reached $8 billion, Kazakh President Kassym-Jomart Tokayev said on Friday.

"The volume of regional trade with China is also growing rapidly. Late last year, this figure reached $70 billion, 45% of which Kazakhstan accounts for. I believe that all conditions are present to maintain this positive dynamics and achieve the level of $100 billion in trade by 2030," Tokayev said during the China-Central Asia Summit in the Chinese city of Xi'an.

The Kazakh leader called for the development of a plan for industrial cooperation between Central Asia and China, relying on the region's advantages and needs, and suggested that the Central Asian nations establish a joint food hub with China.

Tokayev also encouraged China to take part in the expansion of the Caspian ports.

From May 18-19, Chinese President Xi Jinping is chairing the China-Central Asia Summit in the city of Xi'an, Shaanxi Province. Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev were invited to attend the first in-person six-way top-level summit since the establishment of diplomatic relations between Beijing and the five Central Asian countries in 1991.