Kazakhstan and China: Relations strengthened further

(Kazinform, 16 April 2008, Astana) During 9-12 April meetings of senior officials, the Kazakhstan Development Bank and Chinese Export-Import Bank concluded an Agreement on soft credit. Kazakh-Chinese relations rely mainly on trade-and-economic cooperation. Bilateral trade turnover grew to USD 13.8 billion in 2007 with suggestions it could exceed USD 15 billion by 2010. The two nations have intensified financial cooperation, notably in large project financing, export credit insurance, involvement of second tier banks in development of the two countries’ financial markets, including through opening of subsidiaries.