Ambassador aims to increase bilateral trade between Kazakhstan and Turkmenistan to $1 billion annually
Kazakhstan and Turkmenistan to Boost Trade Relations
The Republic of Kazakhstan and Turkmenistan are gearing up to significantly increase their volume of mutual trade, as announced by the Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Turkmenistan, Nurlan Nogayev. This declaration was made during an interview with a correspondent from "Orient" at the "Investments in the Future of Turkmenistan" forum.
In 2024, the trade turnover between the two countries reached $554 million, according to the Statistics Agency of Kazakhstan. During a meeting last year between the President of Kazakhstan, Kassym-Jomart Tokayev, and the President of Turkmenistan, Serdar Berdimuhamedov, both parties acknowledged the steady growth in trade volumes. However, they expressed their intention to further enhance this aspect of their economic relations. The Kazakh delegation’s active participation in the forum is a testament to this commitment.
The forum served as a platform to discuss crucial areas of economic cooperation and explore the prospects of implementing major infrastructure and energy projects. Highlighting the impressive economic growth of Turkmenistan, including a 6.3% increase in GDP in 2024, the Deputy Chairman of the Cabinet of Ministers of Turkmenistan, Nokerguly Atagulyev, underscored the effectiveness of the country’s economic measures.
A pivotal step towards expanding cooperation between Kazakhstan and Turkmenistan was the exhibition held during the forum. Kazakh businessmen had the opportunity to familiarize themselves with products from Turkmen manufacturers. The Ambassador highlighted that the quality and competitiveness of the goods showcased received high praise from the delegation, leading to the initiation of contracts for their supply to Kazakhstan.
"We are confident that through collaborative efforts, we will achieve our goal of increasing the trade turnover to $1 billion," emphasized the Ambassador. He expressed optimism that the forum would serve as a catalyst for bolstering business ties, particularly in the realm of small and medium-sized enterprises.
With more than 30 companies from Kazakhstan participating in the IFT-2025 forum, new prospects for cooperation with Turkmenistan are on the horizon. The international forum "Investments in the Future of Turkmenistan" has officially commenced in Ashgabat, while an exhibition celebrating the 17th anniversary of the Union of Industrialists and Entrepreneurs of Turkmenistan is currently open in the same city.
As Kazakhstan and Turkmenistan set their sights on expanding their trade relations, the future looks promising for both nations.
Photo: Orient.tm
