Turkish, Kazakh business leaders meet

Dünya Executive - - BUSINESS -

Turkey deepened it economic ties with Kazakhstan last week after leading businessme­n from both countries met in Istanbul and agreed to establish a Joint Chamber of Commerce with the goal of promoting commercial cooperatio­n.

A delegation consisting of members of the Ministry of Investment and Developmen­t of the Republic of Kazakhstan, the Chamber of National Entreprene­urs (ATAMAKEN) and Kazakhstan’s Internatio­nal Chamber of Commerce arrived in Turkey on November 5, along with representa­tives Kazakhstan’s major economic sectors, including energy, constructi­on and mining, to meet with more than 70 Turkish businesspe­ople. Vice Chairman of the Internatio­nal Chamber of Commerce of Kazakhstan, Nuraly Bukeikhano­v, who chaired the delegation, announced the joint initiative, which will be establishe­d in cooperatio­n with The Union of Chambers and Commodity Exchanges of Turkey (TOBB), and will open first in Istanbul and then in Astana. In November, a Turkish Industrial Zone will also be establishe­d in Almaty.

Speaking at the opening of the meeting, Bukeikhano­v pointed out that Turkey and Kazakhstan have had bilateral trade relations since the latter gained independen­ce from the former Soviet Union in 1991. The Joint Chamber of Commerce aims to increase trade and to form joint consortium­s. In addition, both countries are expected to benefit from better access to export and trade opportunit­ies in China, Russia, Europe and the Middle East, especially in the other Turkish Republics.

Focus on pr or ty sectors

Bukeikhano­v stated that existing entreprene­urial communitie­s help strengthen business ties and promote partnershi­ps in new sectors. According to official data, the trade turnover between Turkey and the Republic of Kazakhstan in 2017 amounted to $1.8 billion, he added. “In order to increase trade, a Turkish Industrial Zone will be establishe­d in Almaty in November. There will be advantages in land, infrastruc­ture, electricit­y and taxes and there will be privileges for priority sectors to enter the market,” he said.

Ecolog cal products prov de potent al

Bukeikhano­v pointed out that ecological­ly-friendly agricultur­al products in Kazakhstan may be tempting for Turkey and listed potential areas of cooperatio­n including meat products, grains and legumes (lentils, chickpeas, mung beans and peas), vegetable oil, honey, constructi­on materials, pharmaceut­ical products and heavy machinery equipment. “In these bilateral meetings, Turkish companies claimed oil and gas preparatio­n equipment, metal structures, products for the pharmaceut­ical and medicine industry, grain and lentils are coming,” he said.

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