Azernews.Az

By Abdul Kerimkhanov

Mutual trade and economic turnover between Azerbaijan and Kazakhstan for the first nine months increased by about 70 percent.

This was stated by the Ambassador of Kazakhstan to Azerbaijan, Beybit Isabaev, at an event dedicated to the 25th anniversary of the Azerbaijan-Kazakhstan Friendship Society named after Heydar Aliyev, Report.az informed.

"After the visit of President of Kazakhstan Nursultan Nazarbayev to Baku in April last year, the heads of our states decided to increase the mutual trade and economic turnover by half until 2019. But according to the indicators, by the end of this year, we expect the trade turnover to increase to about 90-95 percent. Without waiting for the next year, we have achieved the tasks that were set by our presidents," the ambassador said.

In addition, Beibit Isabaev noted that the meeting of the intergovernmental commission of Kazakhstan and Azerbaijan, which will be held in late October, will discuss the main areas of cooperation, among which a special place is occupied by the energy sector, transit transport, logistics and agricultural products.

Diplomatic relations between the two countries were established in August, 1992.

Kazakhstan and Azerbaijan attach great importance to the development of bilateral trade and economic ties. There is a successfully operating Intergovernmental Commission, and business forums are held regularly.

For Azerbaijan and Kazakhstan the most important points of cooperation appear to be the contacts on energy issues, oil transportation, agriculture, and the use of the Caspian Sea as an important international traffic artery.

Foreign trade turnover between Kazakhstan and Azerbaijan in January-July 2018 amounted to $141.5 million, which is 94.6 percent higher than the figure for the same period in 2017 ($72.7 million).

The exports from Kazakhstan to Azerbaijan in January-July 2018 amounted to $112.4 million, which is 98.9 percent higher than the figure for the same period of 2017 ($56.5 million).

The imports to Kazakhstan from Azerbaijan in January-July 2018 amounted to $ 29 million, which is 79 percent more compared to the same period in 2017 ($ 16.2 million).

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