Azerbaijan, Kazakhstan set to boost economic, trade ties

9 December 2019 14:04 (UTC+04:00)

By Rasana Gasimova

Azerbaijan is developing intensive cooperation with Kazakhstan in the fields of transport and transit transportation, information and communication technologies, energy, industry and agriculture, minister of Transport, Communications and High Technologies Ramin Guluzade said during the Kazakh Embassy’s Independence Day event held on December 4.

“In 2018, trade turnover between the two countries amounted to $221 million, and in the last 10 months of the current year - $191 million,” Guluzade said.

“Both countries are implementing large-scale infrastructure projects to benefit from being located on shortest route passing through the East-West International Corridor. At the same time, joint efforts are made in order to widely apply multimodal transportation in the Caspian basin,” Guluzade added.

He went on to say that Azerbaijan’s Baku International Sea Trade Port, Kazakhstan’s Kuryk and Aktau ports, as well as the reconstruction of highways and rail networks in both countries will increase the transit potential of the Caspian region.

He added that the relations between two countries are also developing at a high level in the multilateral format.

“We cooperate closely within many international and regional organizations, including UN, CIS, Turkic Council and the Organization of Economic Cooperation,” Guluzade said.

In turn Kazakh Ambassador to Azerbaijan Serzhan Abdykarimov said that Kazakhstan and Azerbaijan have long-standing economic and cultural ties.

“During the years of independence, Kazakhstan has attracted over $320 billion of direct foreign investments into the country’s economy. The strategically important infrastructure projects turn Kazakhstan into important transit and logistics hub, which greatly enhances country’s economic potential,” Abdykarimov said.

He further spoke about significant events of mutual relations between the countries, including the recent launch of the construction of the Trans-Caspian Fiber Optic (TCFO) communication lines laid along the bottom of the Caspian Sea between Kazakhstan and Azerbaijan.

Abdykarimov added that there is no doubt that Azerbaijan will continue being important partner of Kazakhstan.

Kazakhstan and Azerbaijan attach great importance to the development of bilateral trade and economic ties.  In 2017, the Kazakh-Azerbaijani intergovernmental commission adopted a road map for trade and economic cooperation for 2018-2020.

Currently, Kazakhstan exports grain, ferrous metals, locomotives, railway infrastructure equipment, fuel, some industrial products and oil equipment, metal structures, agricultural products and food to Azerbaijan.

In turn, Azerbaijan exports to Kazakhstan products from ferrous metals, jet kerosene fuel, cars, lamps and lighting equipment, industrial equipment, orthopedic appliances, spare parts for aircraft and automobiles and textiles.

As to infrastructure projects, the two countries are working on promotion of a joint transport project - the Trans-Caspian International Transport Route (TITR), which involves cargo transportation from China via Kazakhstan, Azerbaijan, Georgia and further via Turkey and Ukraine to Europe.

TransCaspian Fiber Optic (TCFO) is another large-scale project implemented by Azerbaijan and Kazakhstan. It envisages laying a fiber-optic communication line along the bottom of the Caspian Sea between the two countries.


Follow us on Twitter @AzerNewsAz