| The Chinese One Belt & One Road Initiative (BRI) was one of the main attractions of the recently held China-Central Asia Summit in Xi’an. The Chinese president Xi delivered a keynote speech highlighting the strategic importance, utility and scope of the BRI for the further socio-economic development and greater regional connectivity of all the Central Asian countries. He showcased a new road map for greater regional connectivity based on his Community with Shared Prosperity, Global Development Initiative (GDI), Global Security Initiative (GSI) and Global Civilizational Initiative (GCI).
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In this connection Xi’an declaration further strengthened the spirits of mutual respect, sovereignty and equal opportunities of socio-economic development and drafted a new chapter of inclusive development and modernization in the region and beyond.
Kazakhstan and China signed 47 agreements worth $22 billion during the China-Central Asia Summit. It is the main recipient of FDIs and bilateral agreements. Moreover, Kazakhstan, the biggest economy of the Central Asia, is also the biggest trading partner (US$31.17 billion with 23.6 percent annual increase), first and biggest favoured BRI country, holding of status of Middle Corridor, industrial development supporter and last but not the least biggest country having Chinese companies has further enhanced its bilateral relations with China.
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According to Kazakhstan President Tokayev, China-Central Asian intra-regional economic relations would reach US$100 billion by 2030, representing an increase of 30% from the current level of US$$70 billion. It implies trade increases of US$4.3 billion every year from now for the next seven years or 10% annual increases based on existing trade figures.
The Kazak president Tokayev said Kazakhstan will continue the work of the BRI which proved its effectiveness on a global scale over a decade since it was put forward by President Xi in Astana. In this regard, the development of the Nurkent New City and opening of the third railway crossing on the Kazakh-Chinese border soon would be a major step in this direction which would further enhance bilateral trade and investment opportunities in the future.
During his speech the Kazak President suggested deepening industrial cooperation by launching a Central Asia-China Industrial Cooperation Plan, considering the advantages and needs of the region. He emphasized the broad prospects of the automotive industry between Kazakhstan and China in this regard various agreements were signed on the launch of small-node assembly of top Chinese cars in the country. In this connection work is underway on the appropriate infrastructure for electric charging stations in Kazakhstan.
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In this context, the joint establishment of a Kazakhstan-China automotive industrial technology and engineering personnel training center was signed between Yutong International and Kazakh Company QazTehna. It aims to strengthen cooperation and the exchange of experiences between the two neighboring countries in the automotive sector.
Interestingly, the Kazak president revealed plans to increase the throughput capacity of the Kazakhstan-China oil pipeline through the existing Atyrau-Kenkiyak and Kenkiyak-Kumkol pipelines which is indeed good omen for both the country.
Critical analysis reveals that the development of gas processing capacity and the gas transmission system are top priorities for Kazakhstan. In this regard, the construction of the second string of the Beineu-Bozoy-Shymkent gas pipeline and a gas processing plant at the Kashagan field with a capacity of four billion cubic meters per year is paramount. Hopefully, China-Kazakhstan bilateral relations would be further strengthened after this summit.
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