Меню
The Republic of Türkiye is one of the main trade and economic partners of the Republic of Kazakhstan.
According to the results of 2022, after Russia, China and Italy, Türkiye occupies the 4th position among Kazakhstan's trade partners (in 2021 - 5th position).
In 2022, a record trade turnover of $6.3bn (exports $4.8bn, imports $1.6bn) was achieved.
Overall, compared to 2021, trade turnover increased by 54.4% (from $4.1bn), exports by 60.3% (from $3bn), imports by 39.2% (from $1.1bn).
Investment co-operation
Investment co-operation between the Republic of Kazakhstan and the Republic of Türkiye is developing fruitfully. During the period from 2005 to 6 months of 2023, about $4.9 billion of direct investments were attracted from Türkiye to the economy of the Republic of Kazakhstan. In turn, the Republic of Kazakhstan from 2005 to the present time has invested in the economy of Türkiye about 1.1 billion dollars.
51.4%, i.e. more than half of the investments attracted from Türkiye over the last 18 years fall on the last 6 years (2018-2022).
If the average annual volume of attracted Turkish investments for the period 2005-2010 was $159.3 million, this indicator for the period 2011-2016 was $216.8 million, and for the period 2017-2022 reached $397.3 million, that is, the volume of investments attracted from Türkiye to Kazakhstan shows a stable growth.
Within the framework of the state visit of the President of the Republic of Kazakhstan K.K.Tokayev to the Republic of Türkiye (10-11 May 2022) with the participation of the Head of State, a meeting was held with the heads of 40 largest Turkish holdings and business circles.
The total annual revenue of the representatives of Turkish businesses participating in the event, which occupy leading positions in various sectors, totalled $95 billion. The President held bilateral meetings with such business groups as Kos Holding, TAV Havalimanları Holding, Yildirim Holding, Goknur Gida and Sembol.
In addition, the President was acquainted with 16 major ongoing and prospective investment projects of Turkish entrepreneurs in the Republic of Kazakhstan.
During the visit of the Head of State, 20 investment agreements worth $1.4 billion and 10 Memorandums of Understanding were signed between the entrepreneurs of the two countries.
Intergovernmental Economic Commission
The Intergovernmental Commission on Trade and Economic Cooperation (IGEC) is an effective mechanism for the development of bilateral economic relations between the Republic of Kazakhstan and the Republic of Türkiye.
The IPEC is co-chaired by A. Smailov, Prime Minister of the Republic of Kazakhstan, and C. Yilmaz, Vice-President of the Republic of Türkiye.
On 4th March 2022 in Astana within the framework of the 30th anniversary of the establishment of diplomatic relations between Kazakhstan and Türkiye held the 12th meeting of the Joint Intergovernmental Economic Commission between Kazakhstan and Türkiye.
Following the results of the work of the JIEC, the parties approved the plan of economic cooperation between the Republic of Kazakhstan and the Republic of Türkiye for 2022-2023.