China's direct investment in the five Central Asian countries reached almost $15 billion in 2022, Chinese Commerce Minister Wang Wentao said at an online meeting of trade and economic ministers in the Central Asia + China format, Xinhua reports.
Countries in the region have launched a number of cooperation projects with China in areas such as oil and gas exploration, refining and manufacturing, internet connectivity and digital technology, the Chinese minister said.
The trade turnover between China and the five countries of Central Asia - Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, has maintained a steady growth dynamics.
In the first two months of 2023, trade between China and Central Asian countries grew by 22% year on year, Wang said.
Citing statistical data characterizing the level of trade exchanges between China and with the countries of the region, the minister called the trade turnover between China and the five countries, which reached $70.2 billion last year, a historical maximum.
In 2022, China's imports of agricultural, energy and mineral products from Central Asia jumped by more than 50%, while exports of mechanical and electronic products from China grew by 42%.
China is ready to cooperate with the Central Asian five in promoting new patterns of trade and investment, and using innovation as a stimulus for development, Wang said.
CentralasianLIGHT.org
April 19, 2023