China's YTO Express Co. plans to establish Central Asian headquarters in Kazakhstan - presidential press service
ASTANA. Oct 17 (Interfax) - China's express delivery logistics company, YTO Express Co., is set to establish Central Asian headquarters in Kazakhstan, according to the country's presidential press service.
Kazakh President Kassym-Jomart Tokayev met with YTO Express Co. Chairman Yu Huijiao in Beijing.
"During their discussion, President Tokayev was informed about the company's plans to open a Central Asian head office in Kazakhstan and enter the local market," according to the press service.
These intentions will be formalized through a cooperation agreement between JSC KazPost and YTO Express Group.
"We see significant potential for a mutually advantageous partnership with your company as part of the Chinese Belt and Road initiative. Currently, e-commerce stands out as one of the rapidly expanding segments of the economy, contributing approximately $7 trillion in global GDP. Kazakhstan is focused on promoting e-commerce growth," Tokayev said.
Tokayev expressed the potential for mutually beneficial collaboration within China's One Belt, One Road initiative and the growth of e-commerce, highlighting that Kazakhstan aims to increase its e-commerce share to 20% of total market sales by 2030.
Yu Huijiao detailed his company's key project in Kazakhstan, involving the construction of advanced multimodal class A centers in various regions. "These centers will facilitate efficient goods processing with access to the EU, EAEU, and Central Asia. Intelligent IT solutions will automate logistics and provide customs support for deliveries," he said.
The meeting also explored prospects for mutually beneficial cooperation in e-commerce, transport, and logistics.
Tokayev underscored Kazakhstan's goal of increasing the e-commerce sector's share to 20% of the overall market sales by 2030, saying that well-established companies like Alibaba , Wildberries, Ozon , and JD.com have already been conducting operations in the country.
JSC Kazpost and YTO Express will collaborate on delivery services from global trading platforms such as Alibaba, Tmall, Tiktok, Shein, and JD, in addition to technology and infrastructure investments, including warehouses and an air hub to enhance KazPost's courier delivery service and transit opportunities for routes extending from China to Europe, America, and Australia, facilitated by Kazakhstan.
Established in May 2000, YTO Express Co. is a privately owned Chinese logistics company headquartered in Shanghai.