Business • 11 August, 2018

Prospects for Kazakh-Chinese cooperation in textile industry discussed in Astana

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The leaders of more than 30 largest Chinese companies — members of the Union of Textile Industry of the People's Republic of China — visited Astana for the first time to study the investment opportunities of Kazakhstan. The meeting was organized with the support of Kazakh Invest National Company, reports primeminister.kz.

At the meeting, Kazakh Invest Chairman Saparbek Tuyakbaev stressed that within the framework of the joint investment program between Kazakhstan and China, the implementation of large-scale high-tech projects in the field of biotechnology, automobile cluster, renewable energy and other agreements on these projects were achieved during President Nursultan Nazarbayev's visit in China in June 2018.

"The textile industry is a promising area, where there is a great potential for cooperation. For example, in Kazakhstan about 250,000 tons of cotton collected annually. About a third of this volume is processed, the remaining part goes as raw materials for export. Meanwhile, we have a special economic zone Ontustik, which is located in the border region with Uzbekistan, the largest cotton producer. Taking into account the fact that according to international ratings the investment climate in Kazakhstan is the best in the Central Asian region, it is possible to develop business in here and work out for further export," Tuyakbaev noted.

In his turn, the Head of Ontustik Medeu Dildabayev told Chinese partners about preferential treatment for participants of the special economic zone.

The Union of Textile Industry of China is one of the leading federations of the country. Reformed from the Ministry of Textile Industry of the People's Republic of China, the Union has more than 20-year history. Now more than 20 million people work in the ranks of the organization. Companies in the Union export 12% of the total export volume of the entire textile industry in China, while the total contribution to the Chinese economy is estimated at 3%.

During the meeting, members of the delegation of the textile industry began negotiations on cooperation in the field of cotton production, raw materials processing, clothing production, and logistics.

"This is our first visit to Kazakhstan, and the majority of members of our delegation are very interested in starting cooperation with your country. We visited Kazakhstan thanks to the invitation of Kazakh Invest. And I think that we had a very successful meeting, we learned about the investment potential. Kazakhstan and China are countries that have a common border connected by common mountains and rivers, so I am sure that we have great opportunities and great potential in this area," said the head of the Chinese delegation, chairman of the Union of China's textile industry Song Ruizhe.

In his turn, Deputy Director General of the Representative Office of the China International Chamber of Commerce in the Republic of Kazakhstan Gao Qi noted that "today's meeting is a very good beginning for cooperation between China and Kazakhstan in the textile industry. The government creates very good conditions for investors. Therefore, after today's talks and discussions, I think that there will definitely be a good result."

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