Shanghai, Almaty deepen ties with $2.7 billion in deals

Shanghai institutions and enterprises signed 12 cooperation agreements valued at over $2.7 billion with Kazakh partners during the Almaty-Shanghai Economic and Trade Forum held in Almaty, Kazakhstan, on April 7.

The agreements focus on trade and investment, biopharmaceuticals, auto manufacturing, construction and design, hotel management, and commercial complex development, highlighting a broad spectrum of collaboration.

Around 200 companies and institutions from China and Kazakhstan participated in the business forum.

Shanghai aims to enhance cooperation with Almaty in finance, machinery manufacturing, logistics, and green energy, while helping Chinese companies strengthen their presence in the Kazakh market. The city also intends to boost engagement in innovation and high-tech sectors, viewing them as crucial drivers for further expansion.

Shanghai Mayor Gong Zheng, leading a visiting delegation, expressed Shanghai's commitment to optimizing its business environment and supporting companies in investing in each other's markets, particularly in sectors such as green energy, artificial intelligence, and advanced manufacturing.

Shanghai encouraged Kazakh enterprises to use the China International Import Expo platform to expand cooperation.

Almaty is examining Shanghai's experience in integrated regional development and the implementation of modern transportation solutions.

It hopes to attract investment from Shanghai's construction firms, architectural design institutes, and engineering organizations in major projects within the city.

The two cities' partnership is expected to strengthen industrial and high-tech collaboration. Almaty plans to establish a complete and fully functional artificial intelligence park alongside an expanding data center network.

The Almaty mountain cluster project is set to become Central Asia's largest year-round tourist destination adhering to international standards.

There are also opportunities to jointly develop modern logistics hubs, distribution centers, and e-commerce infrastructure.