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China to invest about $14 billion in Kazakhstan - prime minister

December 14, 2014, 19:03 UTC+3

China’s head of the government Li Keqiang said after his negotiations with Kazakhstan’s Prime Minister Karim Masimov on Sunday

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ASTANA, December 14. /TASS/. The visit of China’s Prime Minister will result in investments of 14 billion U.S. dollars in Kazakhstan, China’s head of the government Li Keqiang said after his negotiations with Kazakhstan’s Prime Minister Karim Masimov on Sunday.

“Of my recent foreign visits to neighbouring countries in terms of the amount and price of contracts signed during negotiations, the $14 billion [of Chinese investments in Kazakhstan] is the maximum figure,” the Chinese prime minister told a news conference.

He said also that Kazakhstan was a leader among the countries of the Commonwealth of Independent States /CIS/ in terms of Chinese investments and was the second in terms of trade turnover. “This is a very impressive demonstration of our cooperation,” the Chinese prime minister said pointing it was most important to develop cooperation from that in the energy sector to cooperation in non-raw-materials sectors and to development of inter-regional cooperation.

The Sunday meeting of the Kazakh-Chinese Business Council that was attended by the two prime ministers was crowned by the signing of a package of bilateral agreements. They included a cooperation agreement between Kazakhstan Temir Zholy and Chinese Railways that targeted promoting freight shipments between Kazakhstan and China and along railway transport corridors China-Kazakhstan-Europe, China-Kazakhstan-Central Asia.

Apart from that, China National Petroleum Corporation and Kazakhstan’s KazMunaiGaz signed an agreement on closer technical cooperation aiming at increasing oil production at South Kumkol oil field in Kazakhstan. KazMunaiGaz - Processing and Marketing, China Kingho Energy Club, Arbat JV and Kuznetsky Open-pit signed an agreement on the implementation of a project for advanced processing of coal to put out diesel fuel, synthetic natural gas and other petrochemicals.

Kazakhstan’s nations company Kazatomprom and China Nuclear Energy Industry Corporation signed a document that provides for the establishment of joint ventures in Kazakhstan to produce nuclear fuels for nuclear plants in China and in third countries, and on the development of uranium resources.

The sides signed a number of other agreements.

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