BAKU, Azerbaijan, March 11. Over 50 Kazakh companies have applied for work in the territories of Azerbaijan liberated from Armenian occupation, said Deputy Minister of Energy of Azerbaijan Samir Valiyev during the second session of the Kazakh-Azerbaijani Business Council in Baku, Trend reports.
"The favorable investment climate offers enormous prospects for partnership in the investment industry. Over the last 30 years, the construction of investor-friendly conditions has brought over $300 billion in investments to the Azerbaijani economy, with foreign investors accounting for half of that total. Direct investments from Kazakhstan to Azerbaijan total $114 million, while those from Azerbaijan to Kazakhstan total $215 million.
More than 200 Kazakh-owned enterprises currently operate in
Azerbaijan. Notably, 53 Kazakh enterprises have shown an interest
in functioning in the newly liberated areas. We applaud the Kazakh
side's eagerness for participation in programs involving the
rebuilding and restoration of these sites," he stated.
According to the deputy minister, Azerbaijan and Kazakhstan have
strong fraternal relations that have now advanced to the level of
allied contact and are rapidly developing.
"Today marks the start of the official visit of the President of Kazakhstan Kasym-Jomart Tokayev to Azerbaijan. This visit is poised to significantly contribute to the ongoing expansion and fortification of our bilateral ties. Notably, our collaboration extends to the economic sphere, and during the recent meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation in Astana on March 5, crucial steps were agreed upon to reinforce our economic partnership, duly documented in the meeting minutes. It is worth mentioning that the current trade figures between our countries fall short of the existing potential, indicating substantial untapped opportunities," Valiyev added.
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