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Turkish Trade Center may be established in Kazakhstan

Business Materials 8 July 2020 18:50
Turkish Trade Center may be established in Kazakhstan

BAKU, Azerbaijan, Jul. 8

By Nargiz Sadikhova - Trend:

Turkish Trade Center could be established in Kazakhstan, Kazakhstan’s Ministry of Trade and Integration told Trend on July 8.

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

Following the meeting, the sides adopted a Joint Action Plan consisting of 65 paragraphs in areas such as trade, investments, industry, transport, education, healthcare, tourism and other sectors. Additionally, an intergovernmental agreement on international combined transportation of goods was signed.

The ministry's representative said that the talks on the Turkish Trade Center establishment in Kazakhstan will take place following entering into force the free trade agreement, which was signed earlier.

The concrete decisions on the topic are to be made before the end of 2022. Turkey’s Trade Ministry responsible for the agreement's implementation from the Turkish side.

The value of trade turnover between Kazakhstan and Turkey amounted to over $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 compared to $714.01 million during the same period of 2019.

In turn, Kazakhstan’s import from Turkey amounted to $270.2 million over the reporting period compared to $230.6 million during the same period of 2019.

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