Aktau to host Kazakh-Azerbaijani business forum

Photo: Aktau to host Kazakh-Azerbaijani business forum / Economy news

Baku, Azerbaijan, June 18

By Emin Aliyev - Trend:

The Kazakh-Azerbaijani business forum will be held in Kazakhstan's city of Aktau on June 28, a message posted on the website of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said on June 18.

"The forum will be held during the visit of a delegation of Azerbaijani entrepreneurs to Kazakhstan to establish new business relationships and sign new contracts," AZPROMO said.

The interested entrepreneurs can get additional information at AZPROMO.

This will be the second business forum between Azerbaijan and Kazakhstan since early 2014. The first meeting of the entrepreneurs was held in February in Baku.

The business forum held in Aktau in 2013 was focused on creating Azerbaijan's logistics centers in Kazakhstan, especially, it its western part, attracting potential investors and partners for implementing joint projects, and sharing the ideas and experience in the economic sphere.

Azerbaijan and Kazakhstan have a strong legal framework; the two countries have signed over 90 documents, more than 20 of which are related to the economic sphere.

The trade turnover between the two countries dropped by 10.16 percent and stood at $132.94 million in Jan.-May, 2014, according to Azerbaijan's State Customs Committee. By comparison, this figure was equal to $147.97 million in Jan.-May, 2013. Around $23 million worth products were exported from Azerbaijan, while the import from Kazakhstan totaled $124.97 million during that period.

Currently, around 52 Kazakh companies successfully operate in Azerbaijan, while over 700 legal entities with an Azerbaijani share operate in Kazakhstan. As many as 50 enterprises with Azerbaijan's share have been registered in this country's western region alone.

Azerbaijan has invested over $130 million in Kazakhstan's economy since 2005. Around $40 million was invested by Azerbaijan in this country in 2013 alone.

Edited by CN

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