ASHGABAT, Turkmenistan, April 22. Turkmenistan and Kazakhstan discussed the goal of boosting trade turnover to $1 billion in the coming years, Trend reports, citing the Kazakh presidential press office.
This was announced during an informal meeting between Gurbanguly Berdimuhamedov, Chairman of the Halk Maslahaty of Turkmenistan, and Kazakh President Kassym-Jomart Tokayev.
During the meeting, the leaders emphasized the importance of identifying new growth opportunities and discussed the prospects for further strengthening multifaceted strategic partnerships across the full spectrum of bilateral relations.
"It is encouraging to witness the successful progress of our cooperation. We have strategically important projects in the gas sector, as well as in transportation and logistics. We are closely monitoring these initiatives, as their outcomes will be vital for the continued growth and sustainable development of our economic ties," said the Kazakh president.
Meanwhile, Berdimuhamedov highlighted the significant potential for further cooperation in the political, trade, economic, and cultural spheres. He also expressed gratitude for Kazakhstan's support of Turkmenistan’s initiative at the United Nations to declare the International Year of Peace and Trust.
To note, Kazakhstan and Turkmenistan share a common approach to the promotion of regional development and the integration processes in Central Asia in the regional context. Kazakhstan's multifaceted foreign policy and Turkmenistan's neutral posture act as a stabilizing force and protective shield for the other countries in the region, thereby promoting a politically stable external environment. They have been consistently enhancing their economic and trade partnerships. The bilateral commerce volume has increased by fourfold in a mere five years. In 2023, it achieved a new peak of $563 million, which is a 28 percent increase from the previous year. The commercial turnover for the first half of 2024 was $237.2 million.