Turkey, Kazakhstan intend to increase energy co-op - minister
Baku, Azerbaijan, Sept. 12
By Rufiz Hafizoglu - Trend:
Turkey and Kazakhstan intend to increase energy cooperation, Turkish Minister of Energy and Natural Resources Fatih Donmez said, Turkish media reported Sept. 12.
Donmez noted that Turkey and Kazakhstan intend to increase the trade turnover to $5 billion in the next few years, and then to $10 billion in the future.
"It is expected that 22 agreements will be signed very soon between Ankara and Astana, 17 of which will be trade agreements. The total cost of the agreements is estimated at $1.7 billion," the minister said.
The minister also noted that Turkey and Kazakhstan have significant potential to increase trade turnover.
"At the end of last year, the trade turnover between Turkey and Kazakhstan increased by 23 percent compared to 2016 and amounted to $2.4 billion," Donmez said.
The minister said Turkey ranks third among foreign investors investing in Kazakhstan, and the total volume of Turkish investments in Kazakhstan is $3.2 billion.
"Turkish contractors in Kazakhstan have implemented 487 projects, including construction of bridges and roads, as well as a number of energy projects," Donmez said. The minister also noted that the total capital of Kazakh investors in Turkey is $170 million.
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