Media: Why is Central Asia important?

The Central Asian region is rich in uranium, oil, and rare earth metals, and as an important trade corridor with Europe, its importance to China is increasing. Against this backdrop, China has strengthened its exchanges with Central Asian countries.

The Central Asian region is also an important part of the "Belt and Road" initiative. The "Belt and Road" is a network of highways, railways, and ports connecting Asia, Africa, Europe, and Latin America, and it serves as a gateway to Europe.

Experts expect that the "Belt and Road" initiative will take center stage at the summit to be held on Tuesday in Astana, further emphasizing cooperation between both sides in the fields of energy and sustainable development.

In addition, the $8 billion railway project passing through Kyrgyzstan to connect China's Xinjiang region with Uzbekistan is likely to appear on the agenda of Tuesday's meeting. The project is planned to start construction in July this year and is expected to be completed by 2030, providing China with a more direct route to Central Asia at that time.

The summit may reach agreements to reduce tariffs, simplify customs procedures, and lower non-tariff barriers to promote bilateral trade volume.

China is currently the largest trading partner for the five Central Asian countries.

In 2023, Kazakhstan imported goods worth $18.7 billion from China and exported goods worth $15 billion to China, accounting for 30% of its total imports and 16% of its total exports, respectively.

In 2023, Tajikistan imported goods worth $3.68 billion from China and exported goods worth $250 million to China, accounting for 56% of its total imports and 16% of its total exports, respectively.

In 2023, Kyrgyzstan imported goods worth $3.68 billion from China and exported goods worth $887 million to China, accounting for 29% of its total imports and 26% of its total exports, respectively.

In 2023, Uzbekistan imported goods worth $12.7 billion from China and exported goods worth $1.82 billion to China, accounting for 32% of its total imports and 6% of its total exports, respectively.

In 2023, Turkmenistan imported goods worth $957 million from China and exported goods worth $9.63 billion to China, accounting for 20% of its total imports and 62% of its total exports, respectively.

China is also increasing its investment in the region. For example, China has committed to investing approximately $26 billion in Kazakhstan.

Source: aljazeera

Original article: https://www.toutiao.com/article/1835161937901575/

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