Baiterek Holding Strengthens Cooperation with Partners within the Kazakhstan–Türkiye Business Forum

May 14, 2026, Astana — Within the framework of the Kazakhstan–Türkiye Business Forum held with the participation of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, and the President of the Republic of Türkiye, Recep Tayyip Erdoğan, JSC “National Managing Holding Baiterek” signed two memorandums of understanding with partners in key sectors of the economy.

Background

Kazakhstan–Türkiye economic relations continue to develop along a stable upward trajectory. At the end of 2025, bilateral trade turnover between the two countries exceeded USD 5.4 billion, increasing by 8.8% compared to the previous year, while Kazakhstan’s exports grew by 17.7%, reaching approximately USD 4 billion. Türkiye consistently ranks among Kazakhstan’s top five trading partners, and the total volume of Turkish investments in the country’s economy has reached USD 6 billion since 2005. To date, 78 joint projects worth more than USD 3 billion have been implemented in Kazakhstan, while around 39 additional projects are currently under implementation.

Baiterek Holding consistently contributes to expanding this agenda by developing partnerships with leading Turkish companies across key sectors of Kazakhstan’s economy. Areas of cooperation include healthcare, chemical and oil refining industries, the agro-industrial sector, as well as tourism infrastructure. Among the Holding’s partners are companies such as Ronesans, Yildirim Group, and Tiryaki Agro, which are implementing high value-added projects in Kazakhstan.

Signed Memorandums

The first memorandum was concluded between Baiterek Holding, Kyzylorda Refinery LLP, SWISSFE CENTRAL ASIA LTD Private Company, and Ronesans Infra Construction LLP with the aim of developing the oil refining sector of the Republic of Kazakhstan. The second memorandum was signed with Fabe-Agro LLP and is aimed at supporting an investment project in the country’s agro-industrial sector.

On behalf of Baiterek Holding, the documents were signed by Chairman of the Management Board Rustam Karagoyshin.

“The signed agreements reflect our readiness to jointly participate with our partners in the implementation of priority investment projects in Kazakhstan. The forum provided a strong impetus for building long-term cooperation, and Baiterek Holding intends to actively employ the Group’s instruments to support projects of strategic importance to the country’s economy,” said the Head of the Holding.

The forum was held as part of the state visit of the President of the Republic of Türkiye to Kazakhstan. Following high-level negotiations, the leaders of the two countries signed the Declaration on Eternal Friendship and Enhanced Strategic Partnership.