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Kazakhstan proposes Turkic Council develops ways to stimulate mutual trade & investment

Business Materials 10 April 2020 16:40 (UTC +04:00)
Kazakhstan proposes Turkic Council develops ways to stimulate mutual trade & investment

BAKU, Azerbaijan, Apr.10

By Nargiz Sadikhova - Trend:

Kazakhstan’s President Kassym Jomart Tokayev proposed that member states of Cooperation Council of Turkic-Speaking States (CCTS, Turkic Council) develop joint action plan to overcome results of the coronavirus pandemic, Trend reports with reference to the president’s press office.

Tokayev made the statement at the Extraordinary Summit of the Turkic Council through video conferencing.

He noted during the meeting that the coronavirus pandemic negatively affects trade and economic relations between the Turkic Council member-states, and thus he proposed to develop a joint ‘Action Plan’ to overcome its consequences.

“This document should cover measures to stimulate mutual trade and investment. In this regard, it would be beneficial for everyone if we intensified the work of the Turkic Chamber of Commerce and Industry and the Turkic Council Investment Fund,” Tokayev said.

Tokaev also expressed the opinion that a whole new economy will be formed in the world following current crisis.

“Already, the economy is rapidly shifting to digital format. Experts say that the e-commerce market in the world will increase to $2.8 trillion in 2023. Preparedness for this will be the key to sustainable development and competitiveness in the future,” Tokayev said.

Tokaev also emphasized during the speech that after overcoming the coronavirus epidemic, ways to give a new impetus to cooperation must be considered.

He also confirmed the readiness of Kazakhstan to cooperate with the Turkic Council member-states in order to ensure international security and bring socio-economic development of the member countries to a new level.

Total number of confirmed coronavirus cases in Kazakhstan amounted to 802 cases.

The first two cases of coronavirus infection were detected in Kazakhstan among those who arrived in Almaty city from Germany on March 13, 2020.

The outbreak of the coronavirus began in the Chinese city of Wuhan (an international transport hub), at a fish market in late December 2019. The number of people killed by the disease has exceeded 95,000. Over 1.6 million people have been confirmed as infected. Meanwhile, over 355,000 people have reportedly recovered.

The World Health Organization (WHO) declared COVID-19 a pandemic on March 11. Some sources claim the coronavirus outbreak started as early as November 2019.

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