The international center for cross-border cooperation (ICBC) “Khorgos” (Kazakhstan) – a new type of cross-border zone of trade and economic cooperation in the world – is one of the important mechanisms for promoting the national economic interests of Kazakhstan and China within the framework of the “Nurly Zhol” [Bright way] and “Silk Road Economic Belt” programs, the President of JSC ICBC “Khorgos” Kaharman Jazin told Trend.

He noted that, the ICBC “Khorgos” is not a purely Kazakh-Chinese project, but a project of cross-border trade and economic cooperation aimed at a broad representation of the business community.

Jazin said the main goals and objectives facing Kazakhstan and China are to strengthen mutual trust and good neighborliness, effective cooperation in political, trade, economic, scientific, technical and cultural fields, as well as in the field of transport and tourism.

“ICBC “Khorgos” was granted the status of a special economic zone (SEZ) by the resolution of the government of Kazakhstan last year. This contributes to the creation of favorable conditions for the development of business and investment in the territory of Kazakhstan. Participants of ICBC “Khorgos” will be exempt from payment of basic taxes, such as land tax, property tax, corporate income tax, there is also a zero VAT rate for goods sold in the SEZ territory, and the absence of quotas for attracting foreign labor, ” said Jazin.

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