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Kazakh companies eye participation in Azerbaijan’s liberated lands reconstruction

7 July 2021 14:29 (UTC+04:00)
Kazakh companies eye participation in Azerbaijan’s liberated lands reconstruction

By Ayya Lmahamad

Baku and Nur-Sultan have discussed Kazakhstan’s involvement in reconstruction of Azerbaijan’s territories liberated from the Armenian occupation in last year’s war.

The possibility of Kazakh companies’ participation in reconstruction work was discussed during the meeting held between Economy Minister Mikayil Jabbarov and Kazakhstan’s Ambassador Serzhan Abdykarimov on July 6.

During the meeting, Jabbarov emphasized the high level of relations between the two countries, underlined the successful continuation of cooperation in various economic areas.

Jabbarov noted that a number of documents envisaged for the development of economic cooperation are being discussed between the parties and work is underway to expand mutual trade.

Moreover, it was noted that the Azerbaijan Trade House opened in Kazakhstan in May. In addition, the parties noted that continued export missions and business meetings are important in terms of expanding bilateral relations.

Noting that the two countries have established effective investment cooperation, the minister emphasized that Kazakhstan has invested $94 million in Azerbaijan’s non-oil sector, while Azerbaijan’s investments in Kazakhstan’s non-oil sector has reached $203 million.

Some 145 Kazakh companies operating in fields of industry, agriculture, trade, services, construction and transport, have been registered in Azerbaijan.

The parties noted the great potential for strengthening cooperation in trade, transit and logistics, industry, agriculture, tourism, etc.

The trade turnover between Azerbaijan and Kazakhstan amounted to $142 million in 2020. In addition, the trade turnover between the two countries amounted to $39 million in January-May 2021.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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Kazakh companies eye participation in Azerbaijan’s liberated lands reconstruction - Gallery Image
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