ASTANA, Kazakhstan, February 23. The Turkish company Proton Otomasyon has expressed interest in implementing an ambitious project to create a copper wire production facility in Kazakhstan, Trend reports.
This was noted during a meeting of the Kazakhstan Industry Committee with a delegation of a Turkish company within the implementation of an order issued by President of the Republic of Kazakhstan Kassym Jomart Tokayev on February 7 at an expanded government meeting to strengthen investor support.
According to the Ministry of Industry and Construction of Kazakhstan, the implementation of this project will be possible subject to the fulfillment of the requirements of both parties, including ensuring access to Kazakh raw materials at preferential prices, which will be the key to the successful launch and operation of future production.
"Negotiations are currently ongoing, and both parties are actively working to development all the details of the project, emphasizing the desire for mutually beneficial cooperation and further strengthening of economic ties between Kazakhstan and Türkiye," the ministry said.
To note, Proton Otomasyon, which has implemented numerous projects in the metallurgical and cable industries over the past 16 years, working with partners in more than 20 countries on four continents, views Kazakhstan as a strategic location for further expansion of its business.
In addition to its core activities, the company is also actively involved in the home textile industry and international trade, with warehouse facilities in Germany and Spain.
Meanwhile, the volume of trade turnover between Kazakhstan and Türkiye amounted to $6 billion in 2023. The volume of trade turnover decreased by 5.3 percent compared to the same period in 2022 ($6.3 billion).
At the same time, in the structure of trade turnover, exports to Türkiye for the above period amounted to $3.9 billion, which is 16.4 percent less than from January through December 2022 ($4.7 billion).
In addition, imports from Türkiye from January through December 2023 increased by 27 percent and amounted to $2 billion. For 2022, imports amounted to $1.6 billion.
