2024 Chongqing-Eurasia NEV Procurement Matchmaking Conference targets 500 million yuan in deals

The 2024 Chongqing-Eurasia New Energy Vehicle Procurement Matchmaking Conference, which attracted over 200 attendees, wrapped up on September 20 in Chongqing.

The signing ceremony between CCPIT Chongqing Committee and Upper Lark Enterprises of Kazakh was heldon September 20. (Photo/Chen Zhan)

Twenty-six purchasing companies from Russia, Kazakhstan, Uzbekistan, and Kyrgyzstan participated, covering sectors of NEV, agricultural machinery, and petrochemicals.

They engaged in business matchmaking with over 100 Chongqing-based firms, eyeing procurement deals estimated at nearly 500 million yuan (USD70.89 million).

Zhang Haiqing, Vice President of the China Council for the Promotion of International Trade (CCPIT) Chongqing Committee, and Melkhanure Zhakup, Vice President of Upper Lark Enterprises Federation, Kazakhstan, delivered keynotes and inked a cooperation agreement to boost institutional collaboration.

Zhang emphasized that Russia and Central Asian countries have been strong supporters and active participants in the Belt and Road Initiative (BRI), strengthening trade relations. The growing shift to electric vehicles in these regions has driven demand for Chinese NEVs, establishing them as key markets since 2022.

Chongqing, strategically located at the BRI and the Yangtze River Economic Belt juncture, benefits from enhanced global connectivity via the China Railway Express and the New International Land-Sea Trade Corridor. This strategic positioning underpins its pivotal role in Eurasian trade, especially in the burgeoning NEV market.

Zhakup noted that China has been Kazakhstan's top trading partner for over thirty years, with bilateral trade surging 100-fold to a record $41 billion by 2023. The Kazakh government's robust support for the EV industry through incentives and tariff exemptions aims to broaden market adoption and boost the sector's growth.

Foreign guests exchanged ideas about NEVs with Chongqing companies at the event. (Photo/Chen Zhan)

Chongqing, known as China's automobile city and a key national advanced manufacturing hub, aligns closely with Eurasian industrial needs, particularly in the rapidly expanding NEV sector, offering vast opportunities for cooperation.

At the event, international attendees engaged in dialogues with representatives from Chongqing's firms. The foreign delegates highlighted their countries' significant demand for EVs, driven by a strong commitment to environmental sustainability.

They visited Chongqing with a clear intent to forge robust partnerships, recognizing the city's formidable capabilities in the automotive and manufacturing sectors. Discussions focused on potential collaborations in EVs, auto components, and supercharging infrastructure.

(by Zhan Chen, and Ma Manlin as an intern, also contributed to this report.)