ISTANBUL - Turkish State Minister Mustafa Said Yazicioglu said Wednesday that the trade volume between Turkey and Kazakhstan will reach 4-5 billion USD in the next three years, up from the current 2.2 billion USD.
Speaking at the Turkish-Kazakh Business Council meeting, Yazicioglu stressed that Kazakhstan is on its way to become a global economic power.
"Turkish businessmen invested in Kazakhstan more than 1.2 billion USD. Turkish contractors have assumed projects worth 6.5 billion USD," Yazicioglu noted.
"On the other hand, investments by Kazakh businessmen in Turkish banking and tourism sectors have reached 4 billion USD. The upcoming visit of Turkish President Abdullah Gul to Kazakhstan, between December 12th and 15th, will promote bilateral relations," Yazicioglu remarked.
Meanwhile, Chairman of the Turkish-Kazakh Business Council Oktay Varlier said that preparations began for the establishment of a Turkish-Kazakh Joint Organized Industrial Zone.
"Turkey is the third biggest country in Kazakhstan, after Russia and China, as far as the number of active companies is concerned," Varlier noted.
"There are over 1,000 Turkish companies active in Kazakhstan. Likewise, more than 150 Kazakh companies operate in Turkey," Varlier stressed.
Speaking at the council meeting, Chairman of the National Economy Chamber of Kazakhstan (ATAMEKEN) Azat Peruashev indicated, on his part, that companies from Turkey and Kazakhstan can collaborate on joint projects in Central Asian republics, Russia and China.