COFCO signs deal with Kazakhstan's Ministry of Agriculture to build agri-products supply chain
A harvester shuttles through wheat fields in Qingzhou City, east China's Shandong Province, June 7, 2022.(Photo by Wang Jilin/Xinhua)
COFCO Corporation (COFCO), a leading Chinese agricultural company, and Kazakhstan's Ministry of Agriculture have signed a cooperation agreement on Thursday to boost bilateral trade in agricultural products and inject new impetus for Belt and Road cooperation between China and Central Asia, according to COFCO's company web portal.
COFCO will work with Kazakhstan to continuously expand bilateral agricultural trade, promote logistics, transportation and infrastructure construction, carry out extensive agricultural technology exchanges and cooperation, and improve the quality and supply stability of Kazakh wheat exported to China, said Lyu Jun, chairman of the group.
He said that both sides will strengthen investment cooperation in key links of the supply chain of agricultural products, such as wheat, barley and oilseeds, and boost personnel and information exchanges to realize mutual learning and common progress.
By the end of 2022, China had imported 2.6 million tonnes of wheat from Kazakhstan. Among them, COFCO imported 1.33 million tonnes, accounting for more than 51 percent, becoming the main channel for Kazakhstan's agricultural products exported to China.
In addition to wheat, the COFCO has also expanded the import of barley, oil and other agricultural products, and exported tomato products, condiments and clothing to Kazakhstan.