President Kassym-Jomart Tokayev of Kazakhstan officially ratified an agreement on international combined transport of goods with Türkiye on May 6, the Akorda press service reports. The agreement, aimed at enhancing bilateral trade and transportation ties, signifies a significant step in the cooperative efforts between the two nations.
The agreement focuses on increasing cargo flow through the Trans-Caspian International Transport Route, utilizing the Baku-Tbilisi-Kars railway, the Caspian Sea ports, and the international transit corridor Western Europe – Western China. The ultimate goal is to boost trade turnover between Kazakhstan and Turkey.
The agreement was previously ratified by the Mazhilis, the lower house of the Kazakh Parliament, in February this year. This legislative support solidifies the commitment to enhancing transit activities between Kazakhstan and Turkey. Kazakh Transport Minister Marat Karabayev emphasized the agreement's aim to promote the development of road, rail, and water transport systems.
During Prime Minister Olzhas Bektenov’s recent visit to Ankara, Kazakhstan and Turkey reaffirmed their dedication to fostering cooperation across various sectors. Turkey, as one of Kazakhstan’s top five trading partners and among the top 20 investor countries, aims to maintain a robust trade volume, targeting a minimum of $10 bn. In return, Kazakhstan aims to increase its exports to Turkey, covering 34 categories of goods valued at over $630 mn, including metallurgy, petrochemicals, food, and engineering sectors.
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