Kazakh envoy urges Turkish investment

ISTANBUL. KAZINFORM With an estimated $8.5 billion in investments arriving over the next two years, Kazakhstan has large opportunities for Turkish firms, said the country's ambassador in Turkey, Anadolu Agency reported.

"Through 2020, transportation and logistics investments will be made in Kazakhstan," Abzal Saparbekuly told Anadolu Agency, with national investment authority Kazakh Invest reporting 32 projects in that period worth about $8.5 billion.

Some $250-300 million in investments come from Turkey to Kazakhstan every year, said Saparbekuly.

Turkey can do exports to Central Asia, Kyrgyzstan, Uzbekistan, Tajikistan, and even Afghanistan and Iran through Kazakhstan, he underlined.

He added: "Turkey has a current account deficit especially in the raw materials area, it imports $70 billion of chemical materials annually, and Kazakhstan can provide all of these with its mineral wealth."

So far, total foreign-sourced investments in Kazakhstan exceeded $300 billion, most of them in the energy sector, he stressed.

He also 1,700 Turkish firms are currently active in Kazakhstan.