Trade volume between Kazakhstan and Turkey increased 15 times

Bakhyt Sultanov, Minister of Trade and Integration of Kazakhstan, stated that Turkey was one of the top 10 most important trade partners of his country and said “The trade volume between Kazakhstan and Turkey has increased 15 times in 30 years”.

Recalling that Turkey was the first country to recognise Kazakhstan’s independence, Minister of Trade and Integration Bakhyt Sultanov stressed that the trade sector is of great importance for relations between the two countries.

Sultanov, reminding that they would celebrate the 30th anniversary of the establishment of diplomatic relations between the two countries next year, said, “The relationship of our countries in the field of trade has always been positive since the beginning.” Sultanov, stating that the trade volume was around $200 million at the beginning of the 1990s, said that the trade volume in the January-June period of this year increased by 5.3% compared to the same period last year, reaching $1 billion 788 million. Sultanov said:

“The trade volume of the two countries has increased 15 times in 30 years. Currently, Turkey is one of Kazakhstan’s 10 largest trading partners. Trade volume decreased slightly to $3.1 billion in 2020 due to the corona virus outbreak. Exports from Kazakhstan to Turkey decreased by 11.9% to $2.1 billion, and imports from Turkey increased by 15% to $939.6 million in the said period.

Sultanov stressed that the common goal was to increase the trade volume to $5 billion in the short term and $10 billion in the long term. Sultanov, stating that Kazakhstan mainly exported oil to Turkey, said, “Oil ranks first with a 50% share; metal products, especially copper, raw aluminium and raw zinc, ranks second; agricultural products rank third with products such as uncombed cotton fibre, lentils, peas, chickpeas, flaxseed for our exports to Turkey.” Sultanov, stating that clothing is one of the most imported products from Turkey, said, “Last year, clothing products accounted for 12.2% of the imports from Turkey. Pharmaceutical materials are in the second place and woven carpets, floor coverings, home appliances, special purpose machines, and mechanical devices are in the third place.” (www.trtavaz.com.tr)