Kazakhstan Expands Trade and Investment Opportunities at Shanghai Expo

Photo credit: Kazakh Ministry of Trade and Integration

Kazakhstan signed contracts worth $120 million to supply meat and fat-and-oil products, dry camel milk, juices and marmalade during the seventh China International Import Expo (CIIE) held from Nov. 5 to 10 in Shanghai, The Caspian Post reports citing Astana Times.

Last year, the amount of contracts concluded at the exhibition exceeded $81 million, reported the Kazakh Ministry of Trade and Integration on Nov. 11.

“The event was an important step in strengthening trade and economic ties between Kazakhstan and China and other countries,” reads the ministry’s statement.

One of the most significant innovations was the launch of online sales of Kazakh products on the TikTok platform. A streaming event was held in collaboration with the Jiangsu Soho Holdings Group Chinese company, allowing viewers from all over the globe to learn about the range of items available in Kazakhstan and purchase them in real time. Over the course of two days of online sales, products worth 450,000 yuan (US$62,190) were sold.

Kazakhstan’s Cerebra AI-powered software for early stroke detection and Alaqan AI, a solution for biometric identification that uses palm vein patterns, took first and second places in the 2024 Maker in China Regional Final of the Global Innovation and Entrepreneurship Competition for Small and Medium Enterprises in Central Asia, confirming the high level of Kazakhstan’s technological potential.

During the exhibition, Kazakhstan signed several strategically important agreements, including a memorandum of cooperation between the Tourism Department of the Turkistan Region and the Export Bahrain company, aimed at developing tourist routes and increasing the flow of tourists to the Turkistan Region. An agreement was also signed with the Nomad Art company from the Kyrgyz Republic, promoting cultural and tourist exchange between the two countries.