Kazakhstan’s commodity turnover with turkic-speaking states increases by 53.3 percent

Kazakhstan’s trade with Turkic-speaking countries is rapidly growing. In the first quarter of this year, the trade turnover between the parties increased by 53.3 percent and amounted to almost US$3 billion. That’s a billion dollars more than the same period of last year. This was announced by Minister of Trade and Integration Kairat Torebayev at a meeting of the Council of Turkic-Speaking States with the Parliament Assembly. He also noted that Kazakhstan is ready to increase the volume of deliveries of export goods to the Turkic-speaking countries to 130 commodity items exceeding US$588 million in earnings.

"We have the opportunity to increase the supply of metallurgy, petrochemistry, food, chemical, engineering, construction products, light industry, pharmaceuticals, vehicles," the Vice Minister noted.

Work is ongoing to simplify the conditions of supply. The latest amendments allowed to reduce the volume of required documents by 40 percent. This year's innovation was the reimbursement of part of the costs for exporters of IT services. Thus, it is planned to increase the volume of non-primary supplies by more than a billion dollars.

Translation and editing by Galiya Khassenkhanova