Today.Az » Business » Minister: Azerbaijan, Kazakhstan trade turnover up by more than six times
06 July 2022 [14:12] - Today.Az

By Azernews

By Ayya Lmahamad

Energy Minister Parviz Shahbazov has said that the trade turnover between Azerbaijan and Kazakhstan increased by more than six times and amounted to $215 million in the first four months of the year.

He made the remarks while chairing the 18th meeting of the joint intergovernmental commission on trade and economic cooperation between Azerbaijan and Kazakhstan in Nur-Sultan.

Noting that the trade relations between the two countries are developing dynamically, he stated that there is great potential for a further increase in the volume of transactions in all areas of trade cooperation. In this regard, he emphasized that cooperation between mutual trade-economic missions and representatives of the private sector and the trading houses of the two countries in Baku and Nur-Sultan play an important role.

The minister invited Kazakh investors to take advantage of the unique investment opportunities and favorable business conditions in the Alat Free Economic Zone. He added that Azerbaijan is ready to exchange information on important economic projects in order to attract mutual investments.

“We appreciate Kazakhstan's interest in participating in projects for the restoration and reconstruction of the liberated territories of our country. Taking into account the importance of joint efforts to increase the transit potential of our countries, we are ready to continue and deepen cooperation within the development of the Trans-Caspian East-West Middle Corridor, new transit and transport opportunities in the region, as well as the Zangazur corridor as a perspective part of the Middle Corridor,” he said.

In his speech, Shahbazov also touched upon the cooperation of the traditional energy carriers, as well as the great potential for cooperation in the field of energy efficiency, measures to expand the use of renewable energy with private investment attraction, exchange of knowledge and best practices.

Moreover, the minister noted that Azerbaijan and Kazakhstan are united by deep historical roots and strong brotherly relations sealed with many years of successful cooperation experience. He added that thanks to the political will of the heads of states, the relations between the two countries are developing successfully and joint projects are being actively implemented. Shahbazov also noted that the comprehensive program on the development of cooperation between Azerbaijan and Kazakhstan for 2022-2026, which is at the stage of coordination, is of great importance in deepening bilateral cooperation and will be a road map for the development of dialogue.

In turn, Kazakh Trade and Integration Minister, Deputy Prime Minister Bakhyt Sultanov stressed that Azerbaijan has always been and remains a reliable partner of Kazakhstan.

“This year we are celebrating the 30th anniversary of the establishment of diplomatic relations. Over these years, an effective dialogue has been established in the political, trade, economic, cultural, and humanitarian spheres,” he said.

The minister also expressed interest in participating in the restoration and reconstruction works carried out in Azerbaijan’s liberated lands.

During the event, the work done over the period past since the 17th meeting of the intergovernmental commission in Baku was reviewed. A total of 12 issues, such as economy, energy, transport and logistics, space and information technologies, agriculture and food security, tourism, employment, and social protection, culture, sport and youth policy, health, education, innovation, and digital solutions, were discussed within the protocol project of the commission meeting.

At the end of the meeting, a protocol was signed on the outcome of the 18th meeting of the joint intergovernmental commission. In addition, it is agreed to hold the 19th meeting of the commission in Baku next year.

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