Business & Economy

China, Central Asia to broaden agreements for payments in national currencies

Nur-Sultan, Jun 8 (EFE).- China and the five Central Asian republics are to broaden agreements for payments in national currencies against the dollar and create suitable financial mechanisms to expand cooperation, Chinese Foreign Minister Wang Yi said on Wednesday at a multilateral meeting in Kazakhstan.

“We will continue high-quality cooperation within the Belt and Road Initiative, expand multifaceted cooperation, consider setting up a suitable financial mechanism and further broaden agreements on national currencies,” Wang said at the conclusion of the 3rd Central Asia-China Foreign Ministers Meeting.

Wang assured that Beijing will deepen cooperation with the five Central Asian republics – Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan – on the basis of the New Silk Roads, Chinese President Xi Jinping’s flagship initiative to connect the Asian giant by land and sea with Asia, Europe and Africa.

The foreign minister assured that China will ensure the safe and stable operation of the trade route to Europe by land via Central Asia.

“We will promote the simplification of customs procedures, optimize green corridors for cargo transport, speed up the resumption of flights, ensure the integrity of production chains and the continuity of supply chains in the region,” he said.

Wang also said at the meeting that the countries had decided to hold regular meetings between heads of state of Central Asia and China, in light of Beijing’s plans to improve Eurasian links under the “New Silk Roads” investment and infrastructure program.

According to a Kazakh statement, the ministers stressed that the further expansion of multifaceted cooperation between the Central Asian countries and China “is an important factor in sustainable socio-economic development, maintaining peace, stability and security in the region.”

China and Central Asia plan to work particularly in strategic areas such as security, transport and logistics, energy and industry, combating climate change, the green economy, the IT industry, health, education, culture, tourism and personal data security, among others. EFE


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