Kazakh-Azerbaijani trade turnover grows
Baku, Azerbaijan, Oct. 26
By Maksim Tsurkov – Trend:
For three quarters of 2017, the volume of trade turnover between Kazakhstan and Azerbaijan grew 12-15 percent, Kazakh Ambassador to Azerbaijan Beybit Isabayev said at a briefing in Baku Oct. 26.
He said that during this period, about 1.5 million tons of cargo were transported by rail, and this is 146 percent more than in the same period last year.
“The volume of goods transported from Kazakhstan through Azerbaijan grew by 744,900 tons or 269 percent due to the growth in oil products’ shipment,” Isabayev said. “The volume of goods imported from Azerbaijan and through its territory to Kazakhstan increased by 106,700 tons or 58 percent due to the growth in transportation of sugar industry products, chemicals and soda, confectionery products. The volume of transit transportation across Kazakhstan grew by 5,400 tons or 25 percent.”
He noted that in recent years, there has been slight decrease in trade turnover between Kazakhstan and Azerbaijan due to the global financial and economic crisis.
“Nevertheless, the trade turnover between the two countries has been steadily growing over the past year and a half,” he said. “Last year, the trade turnover grew 7-9 percent, and in the first nine months of this year it increased by 12-15 percent. The two countries’ presidents agreed in April 2017 to carry out work to increase the trade turnover by 2-2.5 times and expand the range of goods supplied.”
“To this end, a special road map was developed, and by the end of this year Baku will host a meeting of Kazakhstan-Azerbaijan intergovernmental commission for economic cooperation,” Isabayev said. “It is planned to discuss the whole range of issues of trade and economic relations, develop mechanisms and solutions at the meeting.”
He noted that until 2020, cargo transportation in the East-West direction will increase five-fold, adding that 1.3 million containers from China will be sent to the West, and 300,000 of these containers will be transported along the Caucasus route, that is, through Kazakhstan and Azerbaijan, according to the forecast estimates.
“The flow of goods from Europe via Azerbaijan and Kazakhstan to the countries of Central Asia and China, as well as the flow of Chinese goods through Kazakhstan and Azerbaijan to Europe, will greatly increase,” he said.