Kazakhstan, Turkmenistan set to increase trade turnover to $1 billion

Kazakhstan is set to expand exports to Turkmenistan with 80 commodity items worth $120 million. Bilateral trade turnover between the countries could soon reach $1 billion, President Kassym-Jomart Tokayev said during expanded-format talks with Turkmen President Serdar Berdimuhamedov.

«Over the past five years, mutual trade has grown nearly fourfold. More than 150 companies operating with Turkmen capital make an important contribution to strengthening trade and economic ties. Several projects in industry, transport, logistics, and other sectors are now being implemented. Cooperation in the energy sector, particularly in the gas industry, is developing dynamically. Regular meetings of the intergovernmental commission and the active efforts of the business council are instrumental in this progress,» Tokayev said.

Following the talks, Tokayev and Berdimuhamedov made a joint media statement, highlighting the significance of the agreements reached.

«A priority task is to expand cooperation in the energy sector, where we’ve seen significant progress in recent years. Kazakhstan intends to take an active part in gas condensate field development projects in Turkmenistan and expanding pipeline infrastructure. QazaqGaz and the Turkmengaz State Concern signed an Agreement on Cooperation in the Gas Industry today,» Tokayev added.

Cooperation in oilfield services, logistics, and cargo transportation was also prioritized. The parties discussed the possibility of establishing branches of Kazakh universities in Turkmenistan.

«Specific areas for our further collaboration have been defined. I would particularly highlight the constructive and substantive nature of the talks held in the atmosphere of mutual trust and openness that is traditional for relations between the two countries. A high assessment was given to the current level of bilateral dialogue, which is being conducted in all areas in politics, economics, and cultural-humanitarian fields,» Berdimuhamedov noted.

Following Tokayev’s official visit to Turkmenistan, the parties signed over 20 documents. A key outcome was a Declaration on Strengthening Friendship and Multifaceted Strategic Partnership.