Chinese companies to invest in Kazak agro sector

08.11.2017

The Kazakh national holding Kazagro and Chinese State Development and Investment Corporation signed a memorandum on the construction of an agroindustrial complex worth $100 million in Kazakhstan, reads a report of the Kazakh Ministry of Agriculture.

The deal was signed within framework of Deputy Prime Minister, Agriculture Minister Askar Myrzakhmetov to Beijing upon the invitation of the Chinese side.

Within the framework of the visit, Myrzakhmetov held bilateral meetings with Chinese Minister of Agriculture Han Changfu, Chairman of the Main Directorate for Quality Supervision, Inspection and Quarantine of the People's Republic of China Zhi Shupin, as well as major Chinese companies.

In Beijing, topical issues of development of Kazakh-Chinese bilateral cooperation in the field of agriculture, including joint investment projects, development of organic and veterinary issues were discussed.

During the visit, the Kazakh and Chinese sides signed a Protocol on quarantine and health protection requirements for equine animals exported for slaughter from Kazakhstan to the People's Republic of China.

In addition, a number of agreements have been signed between Kazakh and Chinese companies on cooperation in trade and attracting investments in the agro-industrial complex:

"Kazagro" and Grand China Business Management Co. LTD signed a memorandum on the construction of a premium wheat farm valued at $100 million;

The Food Corporation and the Dalian Commodity Exchange inked a memorandum on the construction of a network of wholesale distribution centers and the organization of a commodity exchange;

The Food Corporation and Grand China Business Management Co. LTD agreed on the export of 20,000 tons of first class wheat (for $4.5 million);

The Food Corporation and Grand China Business Management Co. LTD signed an agreement on the export of 2,000 tons of vegetable oil ($1.5 million).

A Memorandum on the implementation of the investment program for 2018-2024 on the construction of infrastructure for breeding and export of cows and beef ($ 600 million) was signed between the Union of Kazakhstan Meat Union and CITIC Construction.

The export of Kazakh goods amounted to $35.1 billion in January-September, showing an increase of 31.1 percent, or $8.3 billion compared to the same period last year


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