Kazakhstan, Turkey aimed at increasing turnover by 3.5 times

Kazakhstan, Astana, May 23 /Trend D.Mukhtarov, I.Khalilova/ Kazakhstan and Turkey aim to increase trade turnover from $3 billion to $10 billion, Prime Minister Recep Tayyip Erdogan said at Ak Orda on Wednesday. He said it after the signing of a joint declaration on the establishment of strategic cooperation council of higher level between Kazakhstan and Turkey. "Now we are not just friends and brothers but we are strategic partners now. Kazakhstan has always been a priority for the infusion of investments from Turkey," Erdogan said. Today, the governments of Kazakhstan and Turkey have also signed a joint economic program "New Synergies", which provides the cooperation in the field of petrochemicals, transportation, road construction and infrastructure projects. The visit of about 150 large Turkish businessmen to the South Kazakhstan region is expected in late May in the frame of the agreement. Administration of the area identified the land area of 100 hectares, where Kazakh-Turkish industrial zone will be established. The volume of Turkish direct investment in Kazakhstan reached almost $1.8 billion since 1993 till now. Turkey ranks 14th in terms of the amount of foreign investments in Kazakhstan. The volume of Kazakhstan's foreign direct investment in Turkey exceeds $ 600 million since 2004 till now. Kazakhstan registered 3422 company with Turkish capital, 1975 of which have operating at present. There are 150 Kazakh companies operating in Turkey at the moment. Do you have any feedback? Contact our journalist at agency@trend.az