Tuesday, 26 November 2019 08:03

Kazakhstan: One Belt is raising the world trade

Owing to the construction of the Chinese-Kazakhstan transit logistics base in Liányúngang, Kazakhstan has for the first time in history got an access to the Pacific Ocean. Besides, the Western Europe –Western China highway and tens of other routes have been laid across the territory of Kazakhstan in the frame of coupling the OBOR with the new economic policy “Nurly Zhol”, which helps to strengthen transit and export potential of the country.

Belt and Road initiative plays a significant role in turning Kazakhstan from the landlocked state into an important transportation hub connecting the Eurasian continent with the Asia-Pacific region, Caspian Energy News reports citing Kazakhstani media sources.

Coupling the One Belt, One Route initiative with the development strategies of different countries is evidenced by the China-Mongolia-Russia economic corridor, Asian-European trans-continental bridge, Chinese-Pakistani economic corridor and the China-Indo-China peninsula. Construction of the friendship bridge in the Maldives, Addis Ababa – Djibouti and Mombasa-Nairobi railways can also be referred to the actual results of the Chinese initiative. By the way, implementation of the last project made it possible to open a total of 50,000 working places for local people, which raised the economic growth of Kenya by 1.5%.

As Russian.china.org.cn reports, the commodity turnover between China and the One Belt, One Road countries increased by 4.9%. Last year alone, the Chinese companies invested $15.64 billion in 56 OBOR countries. The mentioned funds were allocated directly for non-financial projects. Besides, China together with the countries-participants have opened over 80 foreign trade-economic cooperation zones, which opens a new and broad space for Chinese investments.

The analysts of the World Bank have recently calculated that the One Belt, One Road initiative will help to get 7.6 million people out of absolute poverty in the countries involved in the initiative. 32 million people will get rid of poverty, while the personal income will grow by 0.7-2.9%. An external trade turnover will grow by 2.8-9.7% and the volume of the world trade will rise by 1.7-6.2%. 

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