Last minute

Kazakhstan Kassym-Jomart Tokayev Türkiye

Kazakhstan's president expects future trade turnover with Türkiye to roughly double

ASTANA, Kazakhstan, May 20. Trade turnover between Kazakhstan and Türkiye will reach $10 billion in perspective from the current $6 billion, President of Kazakhstan Kassym-Jomart Tokayev said at a meeting with Chairman of the Grand National Assembly of Türkiye Numan Kurtulmus, TurkicWorld reports via Akorda.

"The dialogue between our countries is flourishing. Türkiye stands as one of Kazakhstan's top five trading partners and among the top ten investors. Last year, bilateral trade reached $6 billion, but we shouldn't halt there. The potential for our relationship is immense. I firmly believe that mutual trade turnover will eventually reach $10 billion," he stressed.

Kurtulmus highlighted that Türkiye and Kazakhstan's significant potential for expanding ties across various sectors, including trade, technology, industry, logistics, energy, and agriculture.

The sides also discussed enhancing cooperation among member countries of the Organization of Turkic States and collaboration within international organizations, along with scheduling upcoming summit meetings.

To note, trade turnover between Kazakhstan and Türkiye in 2023 amounted to $6 billion, marking a 5.3 percent decrease compared to 2022 ($6.3 billion).

In the structure of trade turnover, exports to Türkiye for the period amounted to $4 billion, which is 16.4 percent less than from January through December 2022 ($4.7 billion).

In addition, imports from Türkiye increased 27 percent from January through December 2023, totaling $2 billion. In 2022, imports totaled $1.6 billion.

Related articles