Kazakhstan to support new joint ventures with Azerbaijan
Baku, Azerbaijan, Dec. 11
By Emin Aliyev - Trend:
The current level of trade turnover between Azerbaijan and Kazakhstan does not meet its potential, Kazakh Deputy Minister of Oil and Gas Magzum Mirzagaliyev told journalists following the meeting of the Azerbaijan-Kazakhstan intergovernmental commission on economic cooperation in Baku on Tuesday.
"The trade turnover between our countries is about $ 360 million," he said. "It is clear that the relations must be more developed given the potential of Azerbaijan and Kazakhstan."
"Engineering should be highlighted among the areas of potential cooperation," he said.
"Kazakhstan still remembers the quality of the equipment for the oil industry produced in Azerbaijan since the Soviet period," he said. "We are ready to work in this direction and help deliver Azerbaijani goods to the Kazakh market."
"The creation of new industrial facilities in Kazakhstan is also a priority," he added.
"If Azerbaijani enterprises are established in Kazakhstan and create joint ventures, I am sure that these joint ventures would enjoy broad support from both countries and oil and gas companies," he said. "Around 740 enterprises with Azerbaijani capital are operating in Kazakhstan. At the same, some 35 companies with Kazakh capital are working in Azerbaijan. We must create and maintain the conditions for the quantitative and qualitative growth of the number of such enterprises."
"The construction of a large logistics center in Aktau is being discussed," he said.
"This center will import agricultural products to Kazakhstan and further distribute it on the domestic market," he said. We must thoroughly work on each project in Kazakhstan and Azerbaijan. A Kazakh delegation met with representatives of the Azerbaijani Ministry of Economy and Industry. It was announced during the meeting that the complex will be commissioned within six months."
Azerbaijani Azersun Holding, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Aktau seaport special economic zone signed a memorandum of understanding in Baku in August 2013. Azersun Holding will build a large logistics center in the Mangistau region of Kazakhstan as part of this cooperation.
Translated by NH
Edited by CN