Baku, Azerbaijan, Aug. 20
The fall of the national currency of Kazakhstan, tenge, will not affect the cost of grain imported to Azerbaijan from this country, head of the press service of the ministry of agriculture of Azerbaijan Murtuzali Hajiyev told Trend August 20.
He said that this is due to the increase in grain production in Azerbaijan. Grain production grows in Azerbaijan every year, and by doing so, the government wants to minimize dependence on foreign suppliers.
"In 2015, Azerbaijan produced 2.8 million metric tons of grain crops," said the head of the press service. "Some 1.687 million metric tons of grain were produced, the yield amounted to 31 quintals per hectare, which is 8 quintals more than in the same period of 2014. Azerbaijan has enough grain, and that means we are not so dependent as before."
On Aug.20, Prime Minister of Kazakhstan Karim Massimov announced that Kazakhstan has launched a new monetary policy based on a free-floating tenge rate, and canceled the currency corridor. The weighted average rate of tenge fell to 255.26 tenge per dollar (from 188.38 tenge on Aug.19) on the Kazakhstan Stock Exchange (KASE) at the first trading after this announcement.
The trade turnover between Azerbaijan and Kazakhstan decreased by 2.76 times for the year and amounted to $63.64 million on the results of January-July 2015, according to the State Customs Committee (SCC) of Azerbaijan. At the same time, goods worth $56.06 million were imported, while $7.58 million worth goods were exported to Azerbaijan from Kazakhstan.
Edited by CN