Kazakhstan's revival of the Silk Road Initiative: the challenges ahead
By Rafis Abazov
October 8th, 2015, The CACI Analyst
During his recent visit to China, Kazakhstan’s President Nursultan Nazarbayev signed a series of trade agreements and Memorandums of Understanding (MOUs) on 48 projects valued at about US$ 30 billion. The Minister of Economic Affairs, Yerbolat Dosayev, has called the Chinese market one of the “main markets for Kazakhstan.” The Kazakh government also reiterated its support for the Beijing-instigated “Silk Road Economic Belt (SREB)” initiative and agreed to continue working on several large infrastructure projects. But opinions of Kazakh experts on the SREB are divided. Some believe China’s financial backing will strengthen trade and lead to economic growth, but others are skeptical, claiming it would conflict with the U.S.´s “New Silk Road” initiative.
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