Kazakhstan’s export potential to Azerbaijan is $1.8 billion

Business Materials 25 October 2011 12:45 (UTC +04:00)

Kazakhstan, Astana, Oct. 25 / Trend A. Maratov /

Kazakhstan's producers should expand the supplies of commodity items to Azerbaijan on over 120 commodity items up to $1.8 billion, the National Agency for Export and Investment KAZNEX INVEST reported on Monday.
According to the agency, Kazakh equipment for oil and gas, batteries, transformers, paints and varnishes enjoy the greatest potential in Azerbaijan..

According to KAZNEX INVEST, trade turnover between Kazakhstan and Azerbaijan increased in 2009-2010 due to a sharp increase in goods exports from Kazakhstan. Kazakh products exported to Azerbaijan totaled $342 million compared to $91.5 million in 2009 (a 274 percent increase).

"At the same time imports from Azerbaijan to Kazakhstan declined by 30 percent to $102.6 million," the agency said. "Kazakhstan first of all exports to Azerbaijan livestock products, vegetables, food products (72 percent), metals and metal products (21 percent)."
KAZNEX INVEST was created in 2003. It is one of Kazakhstan's national development institutions designed to promote diversification of the national economy by creating more favorable conditions for development and advancement of Kazakhstan's non-commodity exports and foreign direct investment in priority sectors of the economy.
Edited by E. Kosolapova