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Astana, Kazakhstan • 26 April, 2024 | 14:28

Kazakhstan, Turkiye Sign Ten Commercial Contracts Worth $180M

These agreements encompass cooperation in exports, logistics, and setting up new production sites

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Kazakh and Turkish businesses signed ten commercial contracts worth $180 million in logistics, irrigation, textile, and other areas during the Kazakhstan–Turkiye Business Forum in Ankara, QazMonitor reports citing

What happened: On April 25, Prime Minister Olzhas Bektenov led a Kazakh business delegation at the Kazakhstan-Turkiye Business Forum in Ankara, where more than 500 businesses gathered. During the event, the Prime Minister held talks with Cevdet Yılmaz, Turkiye's 2nd Vice President, focusing on cooperation in transport, agriculture, processing industry, digital development, and tourism.

  • The Kazakh side showed interest in collaborating on oil and gas chemistry, coal chemistry, and machinery. They aim to increase local production and widen the variety of equipment manufactured.

  • Following the business forum, ten commercial contracts totaling $180 million in investment have been signed. These contracts involve various projects such as exporting finished products, building a logistics hub, and setting up facilities for producing soda ash, irrigation equipment such as sprinklers, and nonwoven fabric. Also, an agreement was made to share expertise in seed production and explore opportunities for seed supply.

  • Additionally, at the 13th meeting of the Intergovernmental Commission on Trade and Economic Cooperation, the Kazakh and Turkish delegations discussed ways to boost industrial collaboration. They also made plans to localize pharmaceutical production, share expertise in medicine, and enhance cultural and humanitarian ties.
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