China and Central Asia Strengthen Economic Bonds with Record Trade Growth
China and the five Central Asian nations are witnessing a remarkable boost in their economic and trade relationships. Over the past decade, trade between China and Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan has soared, reflecting deepening ties and mutual cooperation.
According to data released by the General Administration of Customs, trade between China and these Central Asian countries expanded from 312.04 billion yuan (approximately $43.48 billion) in 2013 to 674.15 billion yuan in 2022, marking an impressive increase of 116%. This growth rate surpasses China’s overall trade growth during the same period, with an average annual increase of 7.3%, 2.3 percentage points higher than the national average.
The momentum continued into this year. In the first five months of 2023, trade reached 286.42 billion yuan, up 10.4% year-on-year, setting a new record for this period. This surge highlights the growing significance of Central Asia in China’s trade landscape.
Agriculture stands out as a key area of cooperation. China has been actively exploring opportunities in the agricultural sector with Central Asian countries, leading to an influx of high-quality, eco-friendly agricultural products into the Chinese market. From January to May 2023, China imported agricultural goods worth 4.36 billion yuan from these nations, an increase of 26.9% compared to the previous year.
Notably, imports of linseed from Kazakhstan skyrocketed by 202.1%, while raisin imports from Uzbekistan grew by 153.7%. Honey imports from Kyrgyzstan surged more than tenfold, reflecting China’s growing appetite for Central Asian produce.
Improved land transportation has played a crucial role in this trade boom. Enhanced road networks facilitated 51.8% of China’s trade with the five Central Asian countries in 2022, a significant rise from 19.9% in 2020. These developments have streamlined logistics, making trade more efficient and cost-effective.
The strengthening ties are not just economic but also diplomatic. In May 2023, the first China-Central Asia Summit was held in Xi’an, China. The establishment of the China-Central Asia mechanism was a unanimous decision by China and the five Central Asian nations. This initiative aims to maintain regional stability and achieve high-quality development, reflecting the shared aspirations of all parties involved.
The deepening cooperation between China and Central Asia signals a new era of regional partnership, promising prosperity and growth for all involved.
