ASTANA, Kazakhstan, November 24. Trade turnover between Kazakhstan and Türkiye amounted to $4.4 billion from January through September 2023, Trend reports.
This was stated during the meeting of the Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev with the Ambassador of Türkiye Mustafa Kapucu.
Türkiye is one of Kazakhstan's most important trading, economic, and investment partners. Kazakhstan has more than 3,800 firms (3,835) with Turkish capital participation, ranking second among foreign countries.
According to the minister, Türkiye's direct investment in Kazakhstan has totaled $4.6 billion over the last 17 years.
Kazakhstan has a large potential for exporting high-value processed products worth more than $796 million. Experts from the two nations are currently meeting to discuss the conclusion of a service trade agreement.
In turn, the Turkish Ambassador noted that the presidents of Kazakhstan and Türkiye agreed to increase trade between Kazakhstan and Türkiye to $15 billion.
Kazakhstan’s foreign trade turnover in 2022 reached a historically high level of $134.4 billion. The trade surplus amounted to $34.3 billion, which is 82 percent better than in 2021 and four times more than in 2020.
The total value of exports was $84.4 billion. Foreign sales volumes have climbed by 40 percent by 2021, and by 78 percent by 2020. Meanwhile, imports to Kazakhstan surpassed $50 billion for the first time, breaking the previous high of $49.8 billion set in 2013.