BAKU, Azerbaijan, Sept. 9
By Zeyni Jafarov - Trend:
The foreign trade turnover between Azerbaijan and Kazakhstan from January through July 2021 amounted to $62 million, and there is a great potential for increasing export-import operations in all areas of trade cooperation, Trend reports, referring to the statement of Parviz Shahbazov, the Minister of Energy.
The Minister noted that 152 Kazakhstani enterprises operating in the fields of industry, agriculture, trade, services, construction, and transport are registered in Azerbaijan.
Azerbaijan invested $203.7 million in Kazakhstan from 1995 to 2021, while Kazakhstan invested $94.8 million in Azerbaijan.
There is a positive dynamic of bilateral trade in the energy sector. Thus, Kazakhstan's crude oil and petroleum products are currently transported through the Caspian Sea and Azerbaijan to the Black Sea terminals.
SOCAR Trading S. A. purchased 106,000 tons of crude oil of Kazakh origin in 2020, in order to increase supplies to the world market through the Baku – Tbilisi – Ceyhan pipeline, and from January through July 2021 this figure totaled to 71,000 tons.
The Minister of Trade and Integration of Kazakhstan, the co-chairman of the commission, Bakhyt Sultanov, congratulated Azerbaijan on the liberation of its historical lands from the Armenian occupation.
“The volume of trade flows around the world will grow by 45 percent by 2028, and the main part of logistics will fall on land transport. Now our task is to properly integrate the Trans-Caspian Transport Corridor into the world supply system," Bakhyt Sultanov said.
The protocol was signed on the results of the 17th meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation between the two countries and it was agreed to hold the 18th meeting next year in Nur-Sultan.
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