Turkey, Kazakhstan aim to increase trade volume to $10 billion

Both leaders voiced their target of boosting the bilateral trade volume to $10 billion. 

“It is a must for countries such as Turkey and Kazakhstan, symbols of stability, security and prosperity in their regions, to act together against the circle of fire today,” Erdoğan said. 

The two leaders discussed regional and international matters, as well as bilateral economic relations since the first such meeting was held in 2012, when Nazarbayev paid an official visit to Turkey.

“Kazakhstan has a key location concerning the connection of Central Asia to international markets through the Caspian Sea,” Erdoğan said, adding that any project resulting from the connection would contribute to the prosperity of the region.

“Turkey wants to expand into Asia through Kazakhstan, while we want to expand into Europe and the Middle East through Turkey,” Nazarbayev said. 

He added that the two countries, which Erdoğan described as “the two great countries of Eurasia,” aim to increase their trade volume to $10 billion from $3.1 billion in 2012.

“I believe that we will soon overcome the existing regression of our trade volume,” Nazarbayev added. 

Some 1,600 Turkish companies have carried out numerous projects worth $20 billion to date, he also said.

Erdoğan’s visit, meanwhile, coincides with the 550th anniversary of Kazakh statehood, on which the Turkish president congratulated the “friendly and brotherly Kazakh people.”

Turkey was the first country to recognize the independence of Kazakhstan on Dec. 16, 1991, and diplomatic relations were established in March 1992.