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    World Kazakhstan

    Kazakhstan and Turkey aim to broaden economic cooperation with trade target of $10 bn

    Kazakhstan and Turkey aim to broaden economic cooperation with trade target of $10 bn

    Kazakhstan and Turkey aim to broaden their cooperation, aiming to elevate trade volumes to at least $10 bn and foster enhanced investment opportunities. This was highlighted during the visit of Kazakh Prime Minister Olzhas Bektenov to Ankara on April 25, the Prime Minister’s press service reports.

    Photo: Kazakhstan and Turkey aim to broaden economic cooperation with trade target of $10 bn
    Source: Prime Minister’s press service

    Prime Minister Bektenov's itinerary in Ankara included meetings with Turkish President Recep Tayyip Erdoğan and Vice President Cevdet Yılmaz, as well as interactions with key business leaders and participation in the Kazakh-Turkish business forum. The discussions focused on advancing trade, economic ties, investment, and cooperation across various sectors including energy, transport, logistics, agriculture, digitalization, and tourism.

    The bilateral talks emphasized Kazakhstan’s efforts to deepen relations in grain processing, coal chemistry, oil and gas, and petrochemicals. Additionally, the delegations explored opportunities to enhance industrial cooperation, particularly in pharmaceuticals, medicine, and cultural exchanges.

    Turkey ranks among Kazakhstan's top five trading partners and top 20 investor countries. Kazakhstan aims to increase its exports to Turkey, targeting over $630 mn in trade across 34 product categories from industries such as metallurgy, petrochemicals, food, and engineering.

    The Turkish side expressed interest in pursuing new joint ventures within promising economic sectors. Over the past year, freight transport via rail and road between the two nations increased by 40%, with plans to triple this volume to further develop the Trans-Caspian International Transport Corridor’s potential.

    The visit marks a proactive effort towards strengthening the economic and cultural bonds between the two nations, setting a framework for future collaborations and mutual growth.

     

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    27.04.2024, 13:31   Comments (0)   2156
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