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Sino-Kazakhstan Trade Has Bright FutureThe good relations between the leaders of China and Kazakhstan not only guarantee the development of bilateral trade, but also inject new vitality into it, and sound bilateral political ties have laid the foundation for the further advancement of two-way trade, said Kuanysh Sultanov, the Kazakhstan ambassador to China.Bilateral trade volume reached 1.138 billion U.S. dollars last year, 80 percent higher than the figure for 1998. China's exports to and imports from Kazakhstan stood at 494 million and 644 million U.S. dollars respectively, an increase of 141.5 percent and 49.6 percent. The two countries also are consolidating cooperation in the fields of petroleum and energy. As China's economy continues to grow rapidly, the demand for energy is increasing. This offers good opportunities for cooperation between China and Kazakhstan, a good neighbor and one rich in petroleum resources, the ambassador said. In 1997, Kazakhstan and China signed an agreement valued at 9.5 billion U.S. dollars to develop oil fields and lay oil pipeline in Kazakhstan. The two countries expressed the hope of implementing the agreement as soon as possible in a joint statement on bilateral cooperation in the 21st century issued last year. "When the agreement is implemented, remarkable achievements will be reached in bilateral trade ties," Sultanov said. Trade between Kazakhstan and the neighboring Xinjiang Uygur Autonomous Region of China accounts for about 80 percent of the total bilateral trade. However, other parts of China, especially the developed coastal regions, lack trade ties with the central Asia country. Furthering exchanges between China's coastal regions and Kazakhstan will bring more trade opportunities for both countries, the ambassador said.
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