ASTANA – Kazakh and Turkish business leaders signed ten commercial documents worth over $180 million at an April 25 business forum in Ankara, reported the Prime Minister’s press service.
Photo credit: Prime Minister’s press service
These include a memorandum on the export of finished products, agreements on the construction of a logistics hub, plants for the production of soda ash, irrigation equipment, nonwoven materials, and irrigation equipment assembly. The sides agreed to exchange best practices in seed production and supply seeds in the future.
Today, the two countries implement nearly 100 joint investment projects worth around $3.8 billion.
Kazakh Prime Minister Olzhas Bektenov addressed business representatives and emphasized his readiness to support project implementation.
“Kazakhstan’s investment potential is enormous, and we are interested in expanding mutually beneficial cooperation with Türkiye. Kazakhstan is aimed at transferring advanced technologies, localizing production and creating advanced processing clusters to produce high-quality and high-value products. Investors who are ready to cooperate in this direction will be provided with the necessary resources, infrastructure and support. The Kazakh government is ready to become a reliable and long-term partner for everyone who is ready to do business in Kazakhstan,” he said, focusing on petrochemical chemistry, coal chemistry and mechanical engineering.
According to Turkish Vice President Cevdet Yilmaz, Kazakhstan and Türkiye enjoy positive dynamics in trade and economic relations.
“Much credit goes to business representatives, investors, and exporters for this. I would also like to emphasize the special importance of today’s negotiations. The governments of two countries will continue to make joint efforts to develop their economies and provide all possible assistance to business. I am confident that cooperation between Kazakhstan and Türkiye will expand owing to new agreements,” he said.
Kazakh Minister of Transport Marat Karabayev noted that the volume of cargo transportation between Kazakhstan and Türkiye by railway has increased by around 40% in one year.
“It is planned to develop the Trans-Caspian International Transport Route to increase the transportation prospects,” he said.
Chair of the Kazakh Invest national company Yerzhan Yelekeyev shared the results of the business forum.
“We invited Turkish businesses to take part in the coal chemicals industry. The total coal reserves in Kazakhstan are designed for 300 years, and modern technologies make it possible to produce products from coal with high added value,” he said.
According to Kazakh Minister of Trade and Integration Arman Shakkaliyev, Kazakhstan intends to increase exports of 34 types of products to Türkiye with a total value of more than $630 million.
“Türkiye is one of the five largest trading partners of Kazakhstan and among the top 20 investors. Since the country’s independence, Türkiye has invested $6 billion in the Kazakh economy,” he said.
