Trade volume between China, Central Asian countries sees surging growth

(ECNS) -- Trade volume between China and the five Central Asian countries has increased by more than 100 times and China's stock of direct investment in these countries has exceeded $14 billion in the past three decades, China's Minister of Commerce Wang Wentao said on Monday.

Wang made the remarks via video link at the China-Central Asia economic and trade cooperation forum. This year marks the 30th anniversary of diplomatic ties between China and the five Central Asian countries—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

In the past three decades, China and the Central Asian countries have been deepening pragmatic cooperation in economics and trade. They have established comprehensive, energetic and mutually beneficial economic and trade ties, Wang said.

Many major projects have been implemented to help with industrial upgrades, interconnection construction and improving people's livelihoods, Wang added.

China's Ministry of Commerce is willing to work with the economic and trade departments of the five countries. We will capitalize on the 30th anniversary of establishment of diplomatic relations, draw a blueprint for cooperation, unblock cooperation channels, enhance cooperation, and push China-Central Asia economic and trade cooperation to a new level, said Wang.

Participants from the five Central Asian countries said the world economy is facing many uncertainties, and all parties should join together to cope with the challenges of containing the pandemic, accelerating economic recovery, and contributing more to multilateral and bilateral economic and trade cooperation, regional peace and stability.

The five Central Asian countries are willing to work with China to strengthen the connection between the joint construction of the Belt and Road Initiative and their development strategies, to facilitate the implementation of more cooperation projects, and help with the economic and social development of all countries, they said.

China and the five countries released an initiative on high-quality sustainable development of China-Central Asia economic and trade cooperation during the forum, and reached broad consensus on jointly expanding cooperation in fields such as trade, investment and green development.