Azernews.Az

By Sabina Mammadli

ADY Container LLC under the Azerbaijani Railways and Kazakhstan's KTZ Express Hong Kong under Kazakhstan Railways signed an agreement on partnership within the framework of the first Kazakh-Azerbaijani Business Council, Azernews reports.

The agreement covers issues of deepening cooperation in the field of multimodal cargo transportation and transcontinental container transportation, including the implementation of joint actions on the Trans-Caspian International Transport Route (TITR), the North-South international transport corridor, China-Azerbaijan-China routes, Central Asia-Azerbaijan-Central Asia and others.

The parties also agreed to cooperate on the creation of container block trains in both directions and the attraction of cargo on the mentioned routes.

Additionally, the parties signed the protocol of the first meeting of the Kazakh-Azerbaijani Business Council and a document on twinning between Shusha and Turkestan cities.

Furthermore, AZPROMO Azerbaijan Export and Investment Promotion Agency and the Chamber of International Commerce of Kazakhstan signed a memorandum of understanding. The document was signed by Acting President of AZPROMO Yusif Abdullayev and Chairman of the Board of the Chamber of International Commerce of Kazakhstan Ayan Yerenov.

A cooperation agreement was also signed between the Confederation of Entrepreneurs of Azerbaijan and the Chamber of International Commerce of Kazakhstan. President of the National Confederation of Entrepreneurs of Azerbaijan Mammad Musayev and Chairman of the Board of the Chamber of International Commerce of Kazakhstan Ayan Yerenov signed the relevant document.

The memorandum of understanding between the Agency for the Development of Small and Medium-sized Businesses of Azerbaijan and QazTrade Trade Policy Development Center JSC, as well as the memorandum of cooperation between the Azerbaijani Food City Alliance and the Kazakh QazTrade JSC were signed during the ceremony.

Kazakh-Azerbaijani mutual market

A total of 24 Azerbaijani companies are aiming to enter the market of Kazakhstan, General Director of QazTrade Trade Policy Development Center JSC Azamat Askaruly said.

Noting that these companies are from various sectors of activities, Askaruly stressed that 491 companies have supplied their products from Kazakhstan to Azerbaijan over the past four years.

"The trade turnover between Kazakhstan and Azerbaijan in the first half of 2022 amounted to $194.1 million. Kazakhstan notes an increase compared to the same period last year," he said.

Acting President of AZPROMO Azerbaijan Export and Investment Promotion Agency Yusif Abdullayev also noted that bilateral commercial and economic relations between Azerbaijan and Kazakhstan are developing rapidly.

He stated that the established business council between the two countries also contributes to this.

"This council includes 24 companies from both Kazakhstan and Azerbaijan. AZPROMO is confident that the further development and expansion of the council will contribute to the further development of bilateral trade and economic relations," Abdullayev said.

Speaking at the council, Chairman of the Management Board of the Small and Medium Business Development Agency Orkhan Mammadov stressed that out of 15,000 companies with foreign capital registered in Azerbaijan 200 are with Kazakh capital.

According to him, after the liberation of the territories of Azerbaijan from the Armenian occupation, foreign entrepreneurs are showing great interest in restoring these lands.

"Karabakh has great potential for business development in the energy, tourism, transport, and logistics fields. The agency has received over 1,100 requests from foreign companies to conduct business in the liberated territories. Kazakhstan accounts for 65 of them," Mammadov said.

Similarly, Mammadov stressed that Azerbaijan is interested in attracting Kazakh businesses into the country.

According to him, today's meeting is being held as part of the visit of the president of the Republic of Kazakhstan to the country. The fact that is of particular importance to the event is that, unlike traditional business forums, this business council will function on an ongoing basis and will expand direct contacts between entrepreneurs of Azerbaijan and Kazakhstan, and implement joint long-term projects, which will have a positive impact on the dynamics of commercial relations between the two countries.

"I am sure that over time, based on the results of the business council's activities, the number of participants from both sides will increase. Of particular significance will be the active work of the co-chairs, who, based on their vast experience, will be able to make the necessary efforts to implement the tasks assigned to the council," Mammadov said.

He noted that the agency, in turn, is ready to do everything possible to ensure that these efforts are successful and that the business communities of both countries can achieve high-quality and concrete results in the near future.

"We are actively working to expand the geographical cooperation of local small and medium businesses with potential foreign partners, and are interested in attracting Kazakh business to Azerbaijan," Mammadov said.

Bilateral cooperation

Furthermore, Chairman of the Board of the Chamber of International Commerce of Kazakhstan Ayan Yerenov stated that Kazakhstan sees great potential for the development of commercial and economic relations with Azerbaijan. He added that prospects are seen in logistics, energy, and construction fields.

"In the future, it will be possible to consider the finance industry. In addition, Kazakhstan sees how industrial zones are developing in Azerbaijan, where entrepreneurs are given great rewards. Kazakh companies are interested in doing business on the territory of Azerbaijan," Yerenov said.

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Sabina Mammadli is AzerNews’ staff journalist, follow her on Twitter: @SabinaMmdl

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