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Astana, Kazakhstan • 02 November, 2022 | 16:43

Kazakhstan's Trade Turnover with SCO Countries Increased by 22% to Almost $51B

Prime Minister Smailov vows to contribute to growth via agricultural potential

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Sputnik Kazakhstan
Sputnik Kazakhstan

Kazakhstan's trade turnover with the countries of the Shanghai Cooperation Organization (SCO) grew by 22% to nearly $51 billion, QazMonitor reports citing the press service of the Kazakh prime minister.

According to the message, the economic growth rates of the member states in 2021 ranged from 4 to 9%.

Prime Minister Alikhan Smailov said at a regular meeting of the Council of Heads of Government of the SCO member states that Kazakhstan is willing to contribute to positive growth using its agricultural potential.

“An important step here can be the development of a program of cooperation in the field of breeding and seed production. This will give an impetus to the development of agriculture and allow cooperation between the scientific breeding centers of our countries. Ultimately, it will have a favorable impact on food security,” said Smailov.

Aktau port’s potential was highlighted in particular due to the possibility of it becoming a logistical hub on the route "India - Persian Gulf countries - Iran - Kazakhstan - Russia".

The Prime Minister continued: "In modern conditions, the role of the Trans-Caspian transport corridor in ensuring transit flows between Europe, Central Asia, and China is also increasing. The joint implementation of the opportunities of this route will ensure stable cargo volumes and sustainable transportation.”

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