Kazakhstan and Turkey plan to establish joint infrastructure investment funds

"Many Turkish companies are successfully working in Kazakhstan. Turkish capital assets are involved in functioning of more than 1600 enterprises operating in our country. It should be noted that Turkish business was a big part of building of a new capital city of Kazakhstan - Astana. The total volume of contracted works carried out by the Turkish business in Astana totals about 20 billion US dollars. Presently, Turkish businessmen are involved in implementation of 14 investment projects with the total cost of 1.5 billion US dollars. The trade turnover between the two countries made USD 3.5 billion last year. This figure is less than it used to be before, but we should take into account the negative impact of the world crisis," N. Nazarbayev said.

The President of Kazakhstan also reminded that the joint program called "New synergy" was adopted in 2012. In accordance with the program, the sides plan to increase the mutual trade turnover up to 10 billion US dollars and the volume of investments is expected to be increased up to 50 million US dollars annually.

"We adopted "Nurly Zhol" program a response to the global crisis. This program provides great opportunities for the businessmen of both countries," the Kazakh President noted.

According to N. Nazarbayev, the agreement on the study of the issue of establishment of joint infrastructure investment funds has been reached. These funds will allow Turkey to access China, South and Southeast Asia through Kazakhstan. Kazakhstan, in turn, will be able to access the markets of Europe and Middle East through Turkey.