A joint action plan should be developed to increase the volume of intraregional trade to at least $20 billion, President of Kazakhstan Kassym-Jomart Tokayev said during his speech at the 8th Consultative Meeting of the Heads of State of the Republic of Azerbaijan and Central Asian countries, held in the city of Turkmenbashi, APA's correspondent dispatched to Turkmenistan reports.
The President of Kazakhstan noted that, as a result of joint efforts, trade and economic cooperation is enriched with new content every year, the number of joint ventures is increasing, and business ties are strengthening.
According to him, major projects are being implemented in industry, mechanical engineering, energy and agriculture, trade barriers are being eliminated, border checkpoints are being opened, and road and railway connections are being expanded.
"Nevertheless, the potential of the domestic market has not yet been fully realized. Last year, the volume of intraregional trade amounted to approximately $13 billion. This is equivalent to about 8% of the total trade turnover of our countries," Tokayev emphasized.
He proposed that governments develop a joint action plan to increase intraregional trade to at least $20 billion and gradually increase the share of mutual trade.
Tokayev stated that trade and logistics complexes and industrial cooperation centers being established in the border areas of the countries have great potential. According to the President, these centers could be interconnected in the future to form regional value chains.
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