Azernews.Az

By Gunay Hasanova

Azerbaijan Caspian Shipping Company and Kazakhstan Railways signed an agreement on strategic cooperation and joint ventures.

The agreement was undersigned by Caspian Shipping Company Chairman Rauf Valiyev and Kazakhstan Railways head Kanat Alpisbaev, the Azerbaijani Embassy in Kazakhstan reported on December 6. The meeting took place in the framework of the visit of Azerbaijani delegation to Kazakhstan.

“Both Azerbaijan and Kazakhstan carry out extensive work on the improvement of transport infrastructure and increase of transit capacity. Azerbaijan is engaged in the construction of the Baku international sea trade port, construction of the Baku-Tbilisi-Kars railway, while Kazakhstan is expanding its rail networks and port infrastructure, which allow developing cooperation and implementing joint projects, "- said Valiyev

The sides also discussed issues of cooperation in the framework of the Trans-Caspian International Transport Route, and following the talks, signed the agreement.

Under the deal, the sides agreed on attraction of investments in existing and future transportation projects, enhancement transportation between the ports of Azerbaijan and Kazakhstan, preparation of working plan on transportation in various directions, joint use of existing infrastructure and other areas.

Azerbaijan Caspian Shipping Company plays a connecting role in the Transport Corridor Europe-Caucasus-Asia (TRACECA), provides marine transportation of goods and passengers, as well as offshore support services for oil and gas operations.

Shipping is considered to be the least environmentally damaging form of commercial transport, as well as a comparatively minor contributor to marine pollution. Nearly 90 percent of world trade is implemented by means of the international shipping industry, which facilitates import and export procedures.

Azerbaijan and Kazakhstan are the littoral states of the Caspian Sea and possess a common maritime border.

The trade turnover between Azerbaijan and Kazakhstan totaled $76.9 million in January-September 2015, or 2.5 times less than in the same period of 2014, according to Azerbaijan’s State Customs Committee.

More than 700 operating companies with Azerbaijani capital have been registered in Kazakhstan. Some 60 companies with Kazakh capital have been registered in Azerbaijan.

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Gunay Hasanova is AzerNews’ staff journalist, follow her on Twitter: @gunhasanova

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