ASTANA, Kazakhstan, November 10. Kazakhstan's trade turnover with the countries of the Economic Cooperation Organization (ECO) amounted to $16.5 billion in 2022, which is 40 percent higher than in 2021, said Prime Minister of Kazakhstan Alikhan Smailov during a speech at the 16th summit of the ECO in Tashkent (Uzbekistan), Trend reports.
"At the same time, over 8 months of this year, trade turnover decreased by 3 percent. To increase these indicators, we are ready to export an additional average of about 100 types of goods to each country of the Organization," Smailov said.
According to him, the ECO unites an important strategic region of the world with huge reserves of natural resources that are of critical importance not only for the member countries, but also for the entire global economy.
"In general, the ECO states cover an area of 8 million square kilometers with a population of about 500 million people and a total GDP of $2 trillion. This testifies to the significant economic potential of the Organization, which allows it to set very ambitious goals for the further growth of its authority in the international arena," he said.
The Economic Cooperation Organization (ECO) is a regional intergovernmental organization that brings together Asian and Middle Eastern countries to promote economic cooperation, trade and investment development, and to strengthen political and cultural ties among members.
Meanwhile, the previous summit of the organization was held in Ashgabat in November 2021.
Kazakhstan’s foreign trade turnover in 2022 reached a historically high level of $134.4 billion. The trade surplus amounted to $34.3 billion, which is 82 percent better than in 2021 and four times more than in 2020.
Export volumes amounted to $84.4 billion. By 2021, foreign sales volumes had increased by 40 percent, and by 2020, they had increased by 78 percent.
Import volumes to Kazakhstan reached $50 billion for the first time, updating the 2013 record ($48.8 billion).
