Kazakhstan and China to strengthen coop in finance and e-trade - News | BNews

Kazakhstan and China to strengthen coop in finance and e-trade

12 June, 2018, 10:50 229
Kazakhstan and China to strengthen coop in finance and e-trade

The sides support establishment of strategic cooperation and partnership between the AIFC, the Silk Road Fund and the China-Eurasia Cooperation Fund.

Kazakhstan and China agreed to expand cooperation in finance, to increase amounts of using national currencies in trade, financing and investment. It was said in a joint statement of heads of state Nursultan Nazarbayev and Xi Jinping of June 7, 2018, a press service of the Ministry of Internal Affairs of Kazakhstan reports.

“The two sides will continue to implement the agreement between the National Bank of Kazakhstan and the National Bank of China on the “tenge/yuan” currency-swap, to introduce innovative tools of financing and guaranties, to productively apply various investment platforms, to combine investment and loans.

In addition, the sides agreed to strengthen cooperation in trans-border e-trade, including to establish interaction mechanisms in the area. It is supposed to create a new platform and a cooperation model, to stimulate co-relation of national development programs of ‘digital economy’, says the report.

The leaders welcomed starting of the Astana International Financial Centre (AIFC). The sides prop up the establishment of strategic cooperation and partnership between the AIFC, the Silk Road Fund and the China-Eurasia Cooperation Fund. Also, to support the inclusion of the Silk Road Fund in the exchange stock of the AIFC was expressed. The document notes the intention of the AIFC to develop cooperation with the Asian Infrastructure Investment Bank.



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