Bakhyt Sultanov held talks with the Minister of Trade of Turkey

As part of the state visit of the President of the Republic of Kazakhstan to Ankara, Prime Minister, Deputy Minister - Minister of Trade and Big Business Bakhyt Sultanov held a meeting with Trade Minister Mehmet Mush.

The parties discussed a wide range of issues of trade and economic cooperation between the two countries.

During the meeting, Bakhyt Sultanov noted that Turkey is a highly effective trade and economic partner and is one of the five main trading partners of Kazakhstan. Over 26 years, the trade turnover between Kazakhstan and Turkey has grown by 21.2 times, while exports have grown by 42.1 times, and imports by 9.3 times.

The sides exchanged a list of goods, outlined the potential for increasing trade turnover between the countries.

In particular, our country is ready to increase non-primary exports of products to Turkey in the amount of 547.1 million dollars for 89 commodity items, such as machine-building, chemical, metallurgical, food, aerospace.

In addition, the ministers of the two countries agreed to identify an interdepartmental working group that identified studies with business associations of infected countries with the possibility of identifying and including the expansion and expansion of industrial cooperation. This makes it possible to increase the size of trade turnover to 10 billion US dollars.

"Our main task in the near future is to maintain favorable trade dynamics, which requires diversification and expansion of the range of goods supplied. Creation of production chains and new export—oriented enterprises of this standard," B.Sultanov noted.

For reference: In 2021, Kazakhstan is Turkey's 37th trading partner with a 0.6% share in foreign trade turnover. Turkey is the 5th trading partner of Kazakhstan with a weight of 4.0%.

By the end of 2021, the volume of mutual trade increased by 33.3% and amounted to $ 4.1 billion. To date, there is a positive trend in the probability of the appearance of Kazakh agricultural goods, in particular wheat, cotton fiber, vegetables.

It turned out that Kazakhstan has a great potential for exporting environmentally friendly and improved products to Turkey, which has a price advantage compared to imported goods from other countries.