Kazakhstan, Türkiye aim for $10B in trade

Kazakhstan and Türkiye have set a new ambitious goal: increasing bilateral trade to $10 billion, and intensified contacts between Astana and Ankara are already leading to the launch of new joint projects and increased investment, Gabidulla Ospankulov, chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, told 24KZ, Report informs.

He noted that intensive contacts between heads of state, governments, ministries, and regions are accompanied by the active development of business ties.

"New investment projects are emerging as part of such negotiations. Last year, during Kazakh President Kassym-Jomart Tokayev's visit to Türkiye, a business forum was held, resulting in the signing of documents worth over $500 million," Ospankulov noted.

He emphasized that Türkiye remains one of Kazakhstan's key trading partners. "Last year, mutual trade exceeded $5 billion. The new ambitious goal is to increase this figure to $10 billion," the committee head said.

Ospankulov also reported that more than 5,000 companies with Turkish capital operate in Kazakhstan, and the total volume of Turkish investment in the country's economy over the past 20 years has exceeded $6 billion.

Political scientist Tair Nigmanov, in turn, noted that Türkiye is a long-standing and stable partner of Kazakhstan, with whom educational and business ties are actively developing.

According to him, Türkiye accounts for approximately 4% of Kazakhstan's total trade turnover, and over the past year, bilateral trade has grown by approximately half a billion dollars.

The expert also highlighted the transport and logistics sector as a key area of ​​cooperation. "Last year, approximately 6.5 million tons of products were transported by rail between Kazakhstan and Türkiye. Particular attention is being paid to the development of the Middle Corridor, also known as the Trans-Caspian International Transport Route," Nigmanov stated.

Commenting on the prospects for further development of the route, the political scientist emphasized the importance of resolving the Zangazur Corridor issue.

"The Middle Corridor is connected to Türkiye in one way or another. In the future, if the Zangazur Corridor issue is resolved, logistics will also flow through Türkiye: the Caspian Sea, then Azerbaijan, Armenia, and ultimately Türkiye," he noted.

The publication notes that Turkish President Recep Tayyip Erdogan's current visit to Astana will be a logical continuation of the course toward deepening cooperation and will allow the parties to reach new agreements in various economic sectors.