Kazakhstan enhances trade relations with Turkmenistan
Kazakhstan plans to boost exports to Turkmenistan by nearly $120 million across 80 commodity items, President Kassym-Jomart Tokayev announced during expanded-format talks with Turkmen President Serdar Berdimuhamedov on Oct. 10, reported Akorda.
Tokayev emphasized the significance of fostering business contacts and highlighted the substantial investment potential within small and medium-sized enterprises. He encouraged the promotion of entrepreneurial activities through the Kazakh-Turkmen Business Council, asserting that businesses should serve as the primary driving force behind economic development.
Additionally, he stressed the importance for large commercial and national companies to prioritize the initiation of concrete projects in industries such as construction, logistics, communications, and other sectors. Tokayev expressed confidence that the signing of the Intergovernmental Agreement on the Promotion and Mutual Protection of Investments would further enhance these efforts.
Berdimuhamedov underscored the importance of Tokayev’s visit, which aims to strengthen good-neighborly relations and close cooperation between the two nations, expand partnership areas, and explore new opportunities for collaboration.
Tokayev also acknowledged the ongoing development of cultural and humanitarian ties, as well as the potential for collaboration in higher education. The two presidents discussed joint initiatives in the gas sector, a systematic increase in mutual trade and cargo transportation volumes, and the enhancement of interregional cooperation.
Following their discussions, both leaders adopted a Declaration on Strengthening Friendship and Deepening Multifaceted Strategic Partnership between Kazakhstan and Turkmenistan. They also signed several key agreements, including a comprehensive program for strengthening friendship and deepening multifaceted strategic partnerships for 2025-2027, an agreement on the promotion and mutual protection of investments, and an agreement on strategic cooperation in transport, logistics, and transit. Additionally, they amended the 1997 agreement on international automobile transport of passengers and cargo.
Moreover, the parties reached agreements on cooperation in areas such as crime prevention, plant quarantine, tourism, archival affairs, gas sector development, international postal delivery, oilfield services in the Turkmen sector of the Caspian Sea, and a plan for trade, economic, scientific, technical, and cultural cooperation for 2025.
The signed documents also include seven memoranda of understanding between various departments of both countries, covering finance, transport, sports, digital technology, aviation, media, international relations, and a memorandum of cooperation in maritime transport.
“Samruk Kazyna Group of Companies has signed four agreements,” said Nurlan Zhakupov, Chairman of the Samruk Kazyna Sovereign Wealth Fund. “These agreements will elevate and enhance the efficiency of our bilateral cooperation in the mentioned areas [maritime, gas, postal], and will strengthen the friendly and allied relations between the countries.”
