Shandong sees trade growth with Central Asia

Uploaded containers are seen at Qingdao Port in Shandong province on Jan 9, 2023. [Photo/VCG] 

Under the Belt and Road Initiative, Shandong province, a pivot to connect the East and West through its land-sea transport systems, has been expanding its cooperation with Central Asian countries.

In 2022, the trade volume between Shandong and Kazakhstan reached 13.19 billion yuan ($1.81 billion), up 18.9 percent year-on-year. From January to July this year, this trade volume reached 7.51 billion yuan.

The main export commodities from Shandong to Kazakhstan included inflatable rubber tires, metal products, textile yarns, machinery and equipment, clothing, and plastic products. The main imported commodities from Kazakhstan included petroleum crude oil, gold ore, iron ore, petroleum coke, and refined copper.

Kazakhstan has invested in eight enterprises in Shandong with a total investment of $125 million.

To date, 40 Shandong enterprises and institutions have been established in Kazakhstan, with a total investment of $288 million.

Last year, the trade volume between Shandong and Uzbekistan hit 5.76 billion yuan, up 8.8 percent year-on-year. In the first seven months of this year, their trade volume reached 4.31 billion yuan.

The main imported commodities from Uzbekistan to Shandong included split-type air conditioners, rubber tires, shoe parts, and auto parts.

To date, 36 investment enterprises and institutions from Shandong have been established in Uzbekistan, with a combined investment of $297 million.

In 2022, the trade volume between Shandong and Kyrgyzstan reached 1.93 billion yuan, up 21.7 percent. In the first seven months of this year, their trade volume reached 1.02 billion yuan.

To date, 13 Shandong investment enterprises and institutions have been established in Kyrgyzstan, with their investment totaling $225 million.