Kazakhstan and China have launched a joint digital platform designed to facilitate online trade in grain and agricultural products, opening a new channel for direct business between companies in the two countries.

The Kazakh Ministry of Agriculture said the platform was established on the basis of China’s National Internet Trading Platform for Grain, which brings together around 50,000 agricultural enterprises, according to Interfax.

The new system will allow companies from Kazakhstan and China to conclude deals online, find business partners directly and participate in trading without intermediaries.

During the initial stage, the platform will focus on grains and oilseeds, including wheat, rapeseed, flax and soybeans, as well as vegetable oil and other products from the fats and oils industry.

Several trading mechanisms will be available, including open auctions, invitation-based bidding, direct negotiations and fixed-price sales. The platform will also provide guarantees, online settlements, independent inspections and dispute-resolution procedures.

According to Kazakhstan’s Agriculture Ministry, 35 Kazakh companies have already registered on the platform.