China invests $8 Billion into Kazakhstan
China has become one of the largest investors in the economy of Kazakhstan in terms of total volume of investments -- of $8.4 billion, Secretary of State - Minister for Foreign Affairs of Kazakhstan, Kanat Saudabaev, said in a speech at the Academy of Social Studies of the Peoples Republic of China, Kazakhstan Today reports citing the official media.
The minister noted that since 1992, bilateral trade between Kazakhstan and China has increased by more than 25 times, having reached a record mark in 2008 of $17.5 billion.
"Certainly, the world crisis has negatively impacted these figures. At the same time, the results for 2009 and further joint development plans give us confidence we will return to the previous records," Saudabaev said.
He expressed gratitude to the Peoples Republic of China for its financial support in the amount of $13.5 for important infrastructure projects, according to Kazakhstan Today.