Azerbaijan, Baku, Nov. 3 / Trend E. Kosolapova /
Kazakhstan will increase foreign trade turnover to $165.8 billion by 2016, Kazakh Minister of Economic Development and Trade Kairat Kelimbetov said on Tuesday. He was submitting to the Senate a report on socio - economic development forecasts for 2012 - 2016.
"Taking into account forecasts on world prices and growth in demand in the economy, foreign trade is expected to reach $165.8 billion in 2016," Kelimbetov said, Kazakh Prime Minister's press service reported.
Forecast of socio - economic development for 2012 - 2016 was developed to meet targets set by Kazakh president Nursultan Nazarbayev.
According to the forecast, the main target of economic policy for 2012-2016 is to ensure balanced economic growth at the level of at least 7 percent a year.
Kazakhstan's foreign trade turnover grew by 44.7 percent in the first half of the year compared to the same period of the last year, Kazinform reported referring to the Kazakh Statistics Agency.
According to the Customs Control Committee of the Kazakh Finance Ministry, the country's foreign trade turnover made up $61.5 billion, including export in the amount of $44.9 billion and import - $16.6 billion).