Kazakh agribusiness turns to China for sales and financing

KazExportAstykKazakh agribusiness: In an effort to find new export markets for its agricultural and food products Kazakhstan is ready to turn to China for both financing and sales, its First Deputy Prime Minister Bakytzhan Sagintayev announced last week. He also raised the possibility of transferring industrial facilities from China to Kazakhstan, as well as the construction of new industrial enterprises in Kazakhstan backed by Chinese investments.
“It is very difficult now to get financing on international markets, and Chinese banks are willing to fund projects in Kazakhstan,” he said.
His remarks come days after Beijing lifted trade restrictions which had previously meant that grain imports could only be brought into the country in sacks. With Kazakhstan now able to use containers it has negotiated an initial annual export ceiling of 500, 000 tons of grain, a figure which is to set to double in the near future.