Trade Ministers of Kazakhstan and Turkmenistan discussed prospects for co-operation

During the meeting between the Minister of Trade and Integration of the Republic of Kazakhstan Arman Shakkaliev and the Minister of Trade and Foreign Economic Relations of Turkmenistan Begench Gochmollaev exchanged views on a wide range of issues related to the development of trade and economic relations between the two countries.

In 2023, bilateral trade turnover grew by 28.4% to $563.1 million. During the meeting, the ministers agreed to make maximum efforts to ensure further growth of trade and maintain its positive dynamics. The Turkmenistan market is of great interest for exports of Kazakhstani processed products. According to the Minister of Trade of Kazakhstan, the potential for increasing exports to Turkmenistan is $120.3 million.

«Given the importance of the development of trade and economic relations between Kazakhstan and Turkmenistan, the export credit agency of Kazakhstan («KazakhExport») is ready to support Turkmen partners in the field of long-term trade finance and insurance of trade supplies», - said Arman Shakkaliev. Kazakhstan is ready to establish supplies of railway engineering products and other high-tech products under the insurance coverage of «KazakhExport».

In turn, Minister of Trade and Foreign Economic Relations of Turkmenistan Begench Gochmollaev emphasised readiness to increase trade turnover between the two countries. He also suggested considering the possibility of opening trade houses in the border regions of Turkmenistan, which, in his opinion, would be an additional impetus for deepening co-operation.

Kazakhstan and Turkmenistan continue to strengthen co-operation in all areas on the basis of mutual benefit and trust.