Kazakhstan Highlights Surge In Trade With Bulgaria, Eyes Further Economic Expansion

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, June 9. President of Kazakhstan Kassym-Jomart Tokayev highlighted the steady growth in trade turnover and the existing potential for further expansion during negotiations in an expanded format with President of Bulgaria, Rumen Radev, Trend reports.

According to Tokayev, in the first four months of this year, mutual trade hit the ground running, exceeding $83 million, and by 2024, it skyrocketed fourfold to a whopping $375 million.

“Kazakhstan is committed to further diversifying economic cooperation and implementing joint investment projects in energy, agriculture, healthcare, and tourism,” said Kassym-Jomart Tokayev.

The president expressed support for cooperation with Bulgarian companies and investors, emphasizing that the key to ensuring the success of this activity lies with the Intergovernmental Commission on Trade and Economic Cooperation.

For his part, the president of Bulgaria expressed gratitude for the warm reception and stressed that his country highly values the opportunity to deepen its partnership with Kazakhstan, opening new horizons for multifaceted cooperation.

“Bulgaria views Kazakhstan as a key strategic partner in Central Asia. I am convinced that the key to success is collaboration. In further developing our relations, as well as contacts between the European Union and Kazakhstan, we must fully leverage the strategic location of our countries, which are key links between Asia and Europe,” said Radev.

Throughout the negotiation process, an extensive array of topics pertaining to the bilateral agenda were deliberated upon. The reciprocal commitment to enhance the collaborative synergy and operationalize innovative strategies focused on advancing Kazakh-Bulgarian bilateral relations was substantiated.

In the fiscal year 2024, bilateral trade experienced a substantial uptick, expanding nearly fourfold to reach a total of $375.2 million. Concurrently, foreign direct investment from Bulgaria into Kazakhstan surged by an impressive 86.5 percent, culminating in a total of $7.8 million.

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