Kazakhstan and China Forge $25 Billion Worth of Deals at Forum in Baku
Key Ideas
- Kazakhstan and China aim to sign 60 agreements worth $25 billion at the China–Central Asia Industrial and Investment Cooperation Forum in Baku.
- The agreements include a project with the Chinese company Seraphim for the production of green hydrogen, a promising and eco-friendly fuel.
- Green hydrogen production is gaining attention globally, with countries like China, Japan, South Korea, the USA, Germany, and Saudi Arabia investing in the technology.
- Hydrogen energy is showing promising advancements in transport and aircraft performance compared to electric alternatives.
During the China–Central Asia Industrial and Investment Cooperation Forum in Baku, Kazakhstan and China are set to seal around 60 agreements totaling close to $25 billion. Madiyar Sultanbek, Deputy Chairman of the Board of NC KAZAKH INVEST JSC, highlighted that various cooperation agreements, investment contracts, and other crucial documents would be signed. Among the notable agreements is a partnership with the Chinese company Seraphim to develop green hydrogen production, an environmentally friendly fuel derived from renewable sources. Sultanbek emphasized the growing interest in hydrogen energy, citing its superiority in some cases over electric transport. This event not only signifies a significant economic boost but also showcases a shift towards sustainable and innovative technologies in the energy sector.