Kazakhstan invites Chinese investors to join agricultural projects

ASTANA. May 10 (Interfax) - Kazakhstan has invited Chinese investors to join agricultural projects.

Kazakh Minister of Agriculture Yerbol Karashukeyev suggested this during his visit to China's Xinjiang Uygur Autonomous Region.

"We invite Chinese entrepreneurs specializing in the production of seeds, crops and foodstuffs to come to work in Kazakhstan. We are open to cooperation and joint projects. The Agriculture Ministry will provide overall support to the investors," the ministry quoted Karashukeyev as saying in a press release.

Kazakhstan offers ample opportunities for investment in the agricultural sector, which includes support measures from the government in the form of sectoral benefits and fiscal incentives, according to the press release.

"The investors can conclude investment agreements directly with the government in order to carry out large projects," the press release says.

The administration of the Xinjiang Uygur Autonomous Region is interested in importing Kazakhstan-produced meat, grains, oilseeds and fodder, while Kazakhstan is looking to buy fruit and vegetables from China.

Trade between Kazakhstan and China totaled $24 billion in 2022, with Kazakhstan's exports to China rising 33% to $13 billion and imports up 33.5% to $11 billion.