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Kazakhstan, Turkey discuss issues of scaling up investment

Business Materials 1 August 2021 09:20 (UTC +04:00)
Kazakhstan, Turkey discuss issues of scaling up investment

BAKU, Azerbaijan, August 1

Trend:

Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev held a meeting with his Turkish counterpart Mustafa Tuzcu, Trend reports on July 31.

The meeting was organized with the assistance of the Kazakh Trade Mission in Russia.

The parties discussed issues of supporting investment and increasing the volume of mutual trade. In particular, Torebayev informed his Tuzcu about the progress in implementing projects of cross-border trade and economic cooperation.

"According to the new concept, Khorgos ICBC [International Center of Border Cooperation] will be more focused on trade and development of related services, that is, here the accent will be made on the showrooms of various companies orienting their products to the Chinese market," he said.

"The Chinese consumer will be able to get acquainted with the goods and then determine the deals," the Kazakh official added.

At the same time, he noted that the International ‘Central Asia’ Trade and Economic Center and similar cross-border centers on the border with Kyrgyzstan and Russia will further be focused not only on trade, but also on industrial cooperation between businesses of the two countries.

Tuzcu shared the experience of functioning of similar border centers-free trade zones in Turkey. In particular, according to him, such centers are also divided by specialization: trade, industry, services.

The Turkish vice minister expressed readiness to cooperate in the exchange of experience of the two countries on the development of such centers.

The parties also discussed the development of cooperation in the field of consumer protection, standardization and metrology. During the meeting, the issues of development of Kazakh investments in the production of roofing sheets and facade panels in Turkey, as well as the upcoming WTO conference in November this year were discussed.

Besides, they emphasized the need to reach correct agreements within the international trading system.

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