Business • 07 September, 2018

Nursultan Nazarbayev opens the Kazakh-Chinese business forum

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September 7, 2018, the Kazakh-Chinese business forum dedicated to the five-year anniversary of the One Belt, One Road initiative took place. About 400 representatives of business communities of the two countries took part in the event. They discussed issues of cooperation and further interaction within the framework of the One Belt, One Road.

The President of Kazakhstan Nursultan Nazarbayev opened the forum, addressing the participants of the event with a video message.

"Cargoes from Europe to China via Kazakhstan are delivered in about 15 days. At the same time, shipping by sea would take from 4 to 6 weeks. Logistics and accompanying routes are being established. There is a joint program for cooperation in the field of industry and investment. It implements 51 Kazakhstan-Chinese investment projects for more than $27 billion. This is a sign of investor confidence and an evidence that Kazakhstan pays special attention to improving the investment climate. According to international experts, we are the best country in the region for doing business," the President of Kazakhstan said.

Nursultan Nazarbayev noted that Kazakhstan is a member of the WTO, an associated member of the OECD Investment Committee and has joined the declaration on international investment.

"There is the Foreign Investors’ Council under the President of Kazakhstan, where the Chinese company CNPC has an active role. It is an important strategic partner of Kazakhstan in the development of the oil and gas market. Kazakhstan is carrying out a large-scale campaign to privatize large state-owned enterprises. Major shares of the mining and metallurgy, oil and gas industry, energy, transport and communications, infrastructure and other sectors are put for sale. In addition to direct privatization, we are preparing cooperation on the principle of PPP," the President said.

On the principles of PPP there are a lot of projects implemented in the field of housing and communal services, health, construction, roads and railways, as well as in other sectors.

Nursultan Nazarbayev also mentioned the Astana International Financial Center, created on the basis of the Expo-2017infrastructure, as another promising area for mutually beneficial business.

"AIFC embodies the best models of financial centers in New York, Singapore, London, and Dubai. Independent Court — The International Arbitration Center, composed of international judges, guarantees transparency, fairness and protection of investors' rights and interests. Dear participants, the consistent growth of trade and investment demonstrates the successful nature of trade and economic cooperation between our countries. I am confident that this forum will contribute to its further development and will identify new prospects for strengthening the partnership of business circles of our states. I wish all fruitful work and new successes," Elbasy added.

The Chairman of the People's Republic of China Xi Jinping also addressed the participants of the forum through a video message, noting that the One Belt One Way initiative was born in China, but the opportunities and fruits given to the whole world.

"Five years ago, during my first visit to Kazakhstan, accompanied by President Nazarbayev at Nazarbayev University, I first voiced the initiative to build the economic belt of the Silk Road, which began to attract broad attention of the international community and enjoy a great positive response," Xi Jinping said.

According to him, over the past five years, trade between China and countries along the Silk Road has amounted to more than $5 trillion.

"More than 80 zones of trade economic cooperation with the participation of Chinese companies are established along the One Belt One Way. Over 200,000 jobs were created. In total, more than 100 countries and international organizations signed documents on cooperation with China. Political coordination among the countries participating in the One Belt One Way is constantly on the increase. Large-scale trade and economic projects are being intensively implemented, an infrastructure network is being formed," the PRC President said.

 
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