Turkey, Kazakhstan Target $10B Trade Volume: Ambassador


Turkey, Kazakhstan target $10B trade volume: Ambassador

KARABUK, Turkey, (UrduPoint / Pakistan Point News - 16th Feb, 2021 ) :Turkey and Kazakhstan aim to achieve a $10 billion trade volume in the long run, according to the Kazakh ambassador in Ankara.

During a visit to Karabuk in Turkey's Black Sea region, Abzal Saparbekuly pointed out that an 8% drop in trade volume between the two countries is expected due to the coronavirus outbreak.

"However, Turkey's share in Kazakhstan's foreign trade increased by a grade moving up to the sixth place. This is important in terms of our trade relations with Turkey," the ambassador told Anadolu Agency.

He said the trade volume between the two states was expected to reach $3 billion last year, adding that the potential was actually much higher.

"The target set by the presidents on trade volume between Turkey and Kazakhstan is $5 billion in the medium term, and $10 billion in the long term," he stated.

Saparbekuly reiterated that a joint economic commission is working to improve the trade relations between the two countries.

"I hope this working group will complete its work in the upcoming period. We will carry out a study on the products we buy from other countries in order to import them between the two countries. There will be comprehensive work. It is necessary to add the transport and logistics of them to the work as well." Noting that the transportation sector plays an important role in the increase of trade between Ankara and Nur-Sultan, the ambassador said that container shipping to Kazakhstan via the Caspian Sea has increased rapidly, especially with the opening of the Baku-Tbilisi-Kars railway line.

He also said that the railway and truck companies and unions of the two countries should work together to make this line more functional.

"It is because Kazakhstan has goods to be transferred to the world via Turkey. It is only necessary to work on its fast and more economic transport," he said.