During the meeting in Astana on 13 June 2024, Minister of Trade and Integration of Kazakhstan Arman Shakkaliyev and Minister of Trade and Foreign Economic Relations of Turkmenistan Begench Gochmollayev exchanged views on a wide range of issues related to the development of trade and economic relations between the two countries.
According to Kazakhstan’s Ministry of Trade and Integration, bilateral trade in 2023 saw a significant increase of 28.4%, reaching US $563.1 million.
The ministers expressed commitment to maintaining this positive momentum.
Shakkaliyev highlighted the potential for a $120.3 million increase in exports of processed goods to Turkmenistan, indicating a strong interest in the Turkmen market.
The Minister of Trade and Foreign Economic Relations of Turkmenistan, Begench Gochmollayev, stressed the readiness to increase trade turnover between the two countries.
He also suggested considering the possibility of opening trading houses in the border regions of Turkmenistan, which, in his opinion, will be an additional impetus for deepening cooperation.
“Recognizing the importance of robust trade ties,” Shakkaliyev stated, “the Export Credit Agency of Kazakhstan (KazakhExport) stands ready to support Turkmen partners through long-term trade financing and trade supply insurance.”
Kazakhstan also expressed interest in supplying railway engineering products and other high-technology goods, potentially backed by KazakhExport’s insurance coverage.
Kazakhstan and Turkmenistan continue to strengthen cooperation in all areas on the basis of mutual benefit and trust, the Ministry of Trade and Integration of Kazakhstan notes.