China strikes $23.6 billion worth of deals with Kazakhstan

BEIJING: Expanding its economic partnership with resource-rich Kazakhstan, China today struck 33 deals worth USD 23.6 billion, covering a host of areas including steel and non-ferrous metals.

The agreements were signed during Kazakhstan Prime Minister Karim Masimov's meeting here with Premier Li Keqiang, official media reported.

The agreements included cooperation on steel, non-ferrous metals, sheet glass, oil refining, hydropower and automobile.

The inking of the deals show the success of bilateral cooperation and proves that the two countries' economies are complementary, Li said.

In Li's visit to Kazakhstan in December last year, the two prime ministers reached preliminary consensus on a capacity cooperation framework agreement worth USD 18 billion.

China's equipment and technology are cost-effective, which are suitable for countries promoting industrialization, Li noted.

Li called on the two countries to be innovative in the ways they cooperate by taking market demand as a guide while strengthening coordination of policy making.

He also called for more cooperation in areas such as railway, nuclear energy, energy, agriculture and cultural exchanges.

Masimov spoke highly of the "good start" to the capacity cooperation, saying it proves that this new mode of cooperation has broad prospects and will be an example for the region.

He said Kazakhstan is ready to further deepen the comprehensive strategic partnership with China and strengthen exchanges and cooperation in all areas.

Masimov is on an official visit to China, during which he will also attend the annual Boao Forum for Asia conference in south China's Hainan Province.