BAKU, Azerbaijan, March 13. Kazakhstan and Azerbaijan are implementing projects that are not only important for both countries but also significant on a global scale, Ambassador of Kazakhstan Alim Bael said during the round table within the framework of the third session of the Azerbaijan-Kazakhstan Expert Council.
"Traffic along the Middle Corridor has increased dramatically. In 2022, it doubled, and last year, it grew by 65 percent," he emphasized.
According to him, last year, the transportation of Kazakh oil and uranium through Azerbaijan also commenced.
"We are installing an optical communication connection along the bottom of the Caspian Sea to connect Europe and China. We have also begun exploring the idea of exporting electricity from Kazakhstan to Europe by building a deep-sea cable across the bottom of the Caspian Sea," Bael noted.
The ambassador mentioned that the countries have finally established a joint investment fund.
"At the first stage, the capital will amount to $300 million. Through the fund, we will finance joint projects on our territories and in the territories of third countries. The priority will be transport and logistics, as well as energy," he added.
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