BAKU, Azerbaijan, Nov. 11
By Nargiz Sadikhova - Trend:
Turkey and Kazakhstan are is expected to implement about five new investment projects worth about $160 million, in such sectors as infrastructure, machinery building, food processing and woodworking before the end of the year, Trend reports citing Kazakhstan’s KAZAKH INVEST National Company.
The agreements on the projects were reached during the visit of Kazakhstan’s delegation to Istanbul. This visit is a continuation of the dialogue with foreign investors, which was previously established through video conferencing.
As noted during the visit Kazakhstan and Turkey are strategic partners with common historical, cultural and fraternal ties.
As part of the event, a number of bilateral meetings were held with potential investors who expressed their intention to implement investment projects in Kazakhstan in manufacturing, agribusiness, as well as through the mechanism of public-private partnership.
As a result of the negotiations, 5 agreements for about $ 160 million were signed. According to the documents, projects for construction of a logistics and shopping and entertainment center, a greenhouse, and a heat source are to be implemented in Kazakhstan. In addition, there are plans to build a plant for production of gas-electric stoves.
The value of trade turnover between Kazakhstan and Turkey amounted to $2.05 billion over the first eight months of 2020, compared to $2.02 billion during the same period of 2019.
Kazakhstan’s export to Turkey amounted to $1.4 billion over the period from January through August 2020, compared to $1.5 billion during the same period of 2019.
In turn, Kazakhstan’s imports from Turkey amounted to nearly $574.3 million over the reporting period, compared to $514.4 million during the same period of 2019.
---
Follow the author on Twitter: @nargiz_sadikh