Kazakhstan and Turkey intend to increase trade turnover to $10 billion. This was announced at a Kazakh-Turkish business forum in Astana. Representatives of more than 200 companies from the two countries took part in the forum. The sides discussed the ways of further developing trade and economic relations. In particular, Turkish companies expressed interest in cooperation in such spheres as construction, energy, textile, mining, agriculture, and banking. Kazakh vice Minister for Investments and Development Yerlan Khairov noted, Kazakhstan has created all necessary investment conditions. Eight investment projects worth about $40 million are being implemented in the Kazakh-Turkish industrial zone in the South Kazakhstan region.

NIHAT ZEYBEKCI, MINISTER OF ECONOMY OF TURKEY:

- Our cooperation has great potential that is why we need to strengthen our economic partnership. We need to develop new spheres of cooperation. Diversification is an important part in it. We can both invest in each other’s economies and in other countries. At present, Kazakhstan and Turkey have a simplified visa entry.

AYAN YERENOV, CHAIRMAN, CHAMBER OF COMMERCE OF KAZAKHSTAN:

- Our turnover amounts to $1.5 billion. Imports from Turkey to Kazakhstan yielded $850 million and exports from Kazakhstan to Turkey amounted to $700 million. These are mainly metals, gas, and hydrocarbon raw materials. There are also specific export supplies for plastic, furniture, construction commodities. At present, the entrepreneurs are preparing for a visit of the Turkish President in September.

Over 1,800 Turkish companies operate in Kazakhstan at present.

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