Kazakhstan – Turkey: prospects for bilateral cooperation

Turkish businesspeople have great prospects in Kazakhstan, the country’s President Kassym-Jomart Tokayev said at a meeting with major representatives of Turkish business in Ankara. He urged them to invest in the Kazakhstan’s economy. The Head of State emphasized that investors would be provided with comprehensive support. Now, Turkish entrepreneurs are already implementing large projects in chemical, agricultural and construction sectors. Nearly 4,000 companies with Turkish capital are successfully operating in Kazakhstan to date. Last year, direct investments from Turkey in the Kazakhstan’s economy reached a record high of US$680 million.

“The volume of direct investments from your country has amounted to over US$4.2 billion over the past 16 years. Turkish investments kept growing, despite the pandemic, when global foreign investment declined. Of course, we are pleased with this evidence of high level of confidence of the Turkish brothers in our country,” said Kassym-Jomart Tokayev, President of Kazakhstan.

The President noted that Kazakhstan can offer Turkish investors 5 ready-made projects in the field of exploration of precious and non-ferrous metals. In light of current events, Kassym-Jomart Tokayev stated the importance of using an alternative route for the Trans-Caspian International Transport.

“After the seaport of Kuryk was connected to the Trans-Caspian corridor, the time for transporting goods from Khorgos to Istanbul has decreased by 5 times. The cargo, which used to take 60 days, now takes only 13 days. We have begun to diversify oil export routes to China and Europe, including using the Turkish transport corridors. Work has begun on the throughput capacity of oil pipelines and the protection of the seaports of Aktau and Kuryk,” emphasized Kazakh President.

Following the meeting, 30 documents were signed between the two countries. President Tokayev informed the businessmen that the implementation of the approved agreements would be taken under his personal control.



Translation by Saniya Sakenova

Editing by Saule Mukhamejanova