Kazakhstan Emerges as Top Trade Partner for China Among Central Asian Nations in 2024
In 2024, China's trade turnover with Central Asia reached an impressive $94.82 billion, marking a significant increase from the previous year's $89.4 billion. According to data from the Chinese General Administration of Customs, Kazakhstan emerged as China's top trading partner in the region, with a trade volume of $43.82 billion.
This strong partnership between China and Kazakhstan can be attributed to a number of factors. The signing of numerous bilateral agreements at the second China-Central Asia Summit played a crucial role. These agreements covered sectors such as energy, the nuclear industry, and institutional initiatives.
One of the most notable projects is the planned construction of a new nuclear power plant led by China's state-owned CNNC. Additionally, a pilot "Smart Customs" initiative employing autonomous freight trucks for border crossings was launched, aiming to ease cross-border trade.
Kazakhstan's strategic position on transit routes also contributed to its growth as a key Eurasian transit hub. The development of rail corridor and multimodal logistics hubs has facilitated trade flows between China and other regions.
China's strategic focus on sectors beyond raw materials, including education and poverty reduction, further strengthened its ties with Kazakhstan. These efforts have led to rapid growth in trade volumes, pushing Kazakhstan to the top trading position in Central Asia in 2024.
Tajikistan ranked fifth in China's trade partners in Central Asia in 2024 with $3.86 billion, while Uzbekistan ranked third with $13.78 billion. Turkmenistan ranked fourth with $10.65 billion, and the Kyrgyz Republic held the second spot with $22.71 billion, although the trade turnover figures for individual countries, other than Kazakhstan, were not provided.
These developments reflect China's comprehensive and multifaceted engagement with Central Asia, leading to strong trade ties and a substantial trade surplus approaching $1 trillion for China in 2024. The information was reported by Kazinform on Jan. 23, 2025, although the data about the 2024 trade volumes and surplus was not specified as being reported by Kazinform or obtained from the Chinese General Administration of Customs.
[1] Second China-Central Asia Summit [2] Energy cooperation [3] Nuclear industry [4] "Smart Customs" initiative [5] Eurasian transit hub [6] Rail corridor developments [7] Multimodal logistics hubs [8] Education cooperation [9] Poverty reduction initiatives
- The agreements signed at the second China-Central Asia Summit covered various sectors, including energy, the nuclear industry, and the implementation of smart customs initiatives, demonstrating China's extensive finance and industrial cooperation with Kazakhstan.
- With the launch of the pilot "Smart Customs" initiative and the planned construction of a new nuclear power plant by China's state-owned CNNC, it is evident that the finance sector is playing a significant role in enhancing the bilateral trade relationship between China and Kazakhstan, particularly in the energy industry.
