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Kazakhstan, Turkey taking measures to expand investments co-op

Business Materials 19 June 2020 15:40 (UTC +04:00)
Kazakhstan, Turkey taking measures to expand investments co-op

BAKU, Azerbaijan, Jun. 19

By Nargiz Sadikhova - Trend:

Kazakhstan and Turkey will take measures to expand cooperation on mutual investments, Kazakhstan’s Ministry of National Economy told Trend.

The corresponding agreement was reached within the framework of the XI meeting of the Kazakh-Turkish Intergovernmental Commission on Trade and Economic Cooperation, held in Istanbul (Turkey) on Nov. 10, 2019.

As a result of the meeting, a Joint Action Plan was adopted, consisting of 65 paragraphs in areas such as trade and investment, industry, transport, education, healthcare, tourism and others. Additionally, an intergovernmental agreement on international combined transportation of goods was signed.

Furthermore, during the meeting, the parties signed a new agreement on mutual and impact protection of investments. The deadline for agreement implementation is Dec. 2020.

The agreement said that Kazakhstan’s Ministry of National Economy, Turkey’s Trade Ministry and the Turkish Contractors Association (TCA) are to oversee the agreement implementation.

The value of trade turnover between Kazakhstan and Turkey amounted to $1.1 billion over first four months of 2020, compared to $944.6 million during the same period of 2019.

Kazakhstan’s export to Turkey amounted to $837.7 million over the period from January through April 2020, whereas import amounted to $270.2 million.

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