The Impact of Silk Road Economic Belt on Economic Development of the Republic of Kazakhstan: The Case of Khorgos City

Abstract

The project “Silk Road Economic Belt” (丝绸之路经济带) launched by the Chinese President Xi Jinping in 2013 at Astana, Kazakhstan is the most single largest economic project in the world. It is the largest in terms of volume and participation of countries. This paper therefore seeks to examine some of the strategic aspects and possible economic impact to the participation of the Republic of Kazakhstan. The study focused on the various aspects of the Silk Road Economic Belt (SREB) which have an influence on economic development of the Republic of Kazakhstan. It also analyzed the implementation of the Silk Road Economic Belt project using Kazakhstan’s Khorgos city economic development as a case. The approach used in this paper is based on an analysis of the Silk Road Economic Belt (SREB) in terms of strengths, opportunities and challenges for the future of China-Kazakhstan Economic Cooperation. The project therefore has many in stock for the economy of Kazakhstan when the necessary measures are put in place to tab the opportunities available.