Turkey plans to invest over $400 m in Kazakhstan’s economy, Kazakh President Nursultan Nazarbayev said on Tuesday.

At a joint press conference with his Turkish counterpart Abdullah Gul, Nazarbayev stressed that a number of investment agreements amounting over $400m will be signed at the forthcoming Turkish-Kazakh business forum.

The Kazakh President also noted that both countries aim to boost turnover up to $10 bn. He said that about 1,500 Turkish companies are working in Kazakhstan.

The Turkish President highly appraised Kazakhstan’s activities as OSCE chairing state, saying that the heads of other member states share his opinion.

Abdullah Gul welcomed Kazakhstan’s initiative to hold the 2010 OSCE Summit in Astana, calling Kazakhstan’s presidency in the Organization of the Islamic Conference from next year a significant achievement of Astana’s foreign policy.

A.G.