During a meeting between Trade Minister Arman Shakkaliyev and Chief Executive of Hong Kong John Lee, the Kazakh side proposed resuming direct flights and enhancing the bilateral visa-free regime from 14 days to 30, QazMonitor reports citing the Ministry of Trade and Integration.
Shakkaliyev noted that Kazakhstan is interested in exporting agricultural and food products and is seeking ways to promote domestic products through global marketplaces, including the Hong Kong e-commerce market.
“We have successfully opened a National Pavilion on the international trading platform Alibaba, where more than 5,000 Kazakh goods are listed. Over the past three years, sales on the platform have exceeded $225 million. And, in May this year, the National Pavilion was launched on the electronic platform Joybuy, and we are now actively negotiating with major e-commerce businesses such as Genertec, Huawei, and XingXing companies. We invite you to cooperate in this endeavor”, said Shakkaliyev.
Following the meeting, the Kazakh side extended an invitation to John Lee to visit Kazakhstan.
By the end of 2022, foreign direct investment totaling $96.2 million was attracted from Hong Kong, marking an 8.4% year-over-year increase from $88.8 million. As of August 1, 2023, 100 joint ventures with Hong Kong capital in Kazakhstan were registered and operational.
In the 1H of 2023, the trade turnover between Kazakhstan and Hong Kong reached $45.9 million, showing a substantial year-over-year increase of 59.7% compared to $28.7 million over the same period last year. Exports also saw a notable 31% increase, totaling $26.7 million аor the same period.