Trade turnover between Kazakhstan and China may reach $40 billion by 2015

According to the Majilis (lower chamber) Speaker Ural Mukhamedzhanov, the trade turnover between Kazakhstan and China may reach $40 billion by 2015, Interfax-Kazakhstan reports. The statement was voiced September 25 at a meeting with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC). “China is a leading economic and investments partner of Kazakhstan. For the last decade the trade turnover between the two nations has grown twelvefold. With such a dynamic growth in place, bringing the trade turnover to $40 billion by 2015 is a feasible task”, Mr. Mukhamedzhanov said. He briefed Wu Bangguo on the state-run program of accelerated industrial development, extending an invitation to participate. “These projects need investments, equipment, technology and sales markets”, Mr. Mukhamedzhanov said. Earlier Tengrinews.kz reported that the turnover between Kazakhstan and China in 2011 may grow by 20%, citing officials of the Chinese embassy in Kazakhstan. According to Kazakhstan’s statistics, trade turnover between the two nations in 2010 stood at $20.3 billion, 45% up against 2009.