China, Pakistan, Iran and Kazakhstan to enter into agreement for $6.06 billion

Almaty. August 12. Silkroadnews – China, Pakistan, Iran and Kazakhstan plan to agree on cooperation in manufacturing, energy, agriculture, pharmaceuticals during the three-day forum “Economic belt of the Silk Road” in Chinese Karamay, “Xinhua” agency reported.

According to publication, the total amount of agreements to be made may exceed 40 billion yuan, that, as observers note, shows the cooperation in the framework of “One Belt, One Road” initiative becomes more practical in nature.

The cooperation enables countries to “share dividends from the “Silk Road Economic Belt” joint creation and development”, head of China Pakistan Friendship Association Sha Zukang said.

The forum is held in the Chinese city of oil workers Karamay (Xinjiang Uygur Autonomous Region, Northwest China). This year the forum gathered more than 400 policy makers and business communities’ representatives from 11 countries.

During their presentations representatives of Kazakhstan and Iran paid attention to their countries’ resource advantages and investment opportunities.

Kazakhstan’s Deputy Minister of Investment and Development Timur Toktabayev said Kazakhstan plans to create more favorable conditions for foreign capital through the reforms in tourism, logistics and mining sectors.

In his turn Iran’s Deputy Minister of Oil Masoud Hashemian Esfahani spoke for the greater cooperation with foreign investors in the country’s oil and gas sector.

$1 = 6.6 yuan