Baku, Azerbaijan, Feb. 9
By Ali Mustafayev – Trend:
Trade turnover between Azerbaijan and Kazakhstan may reach $300 million in coming years, Azerbaijani economist Vugar Bayramov said in an interview to Kazakh media outlets.
“There are good opportunities for increasing the trade turnover. Despite the growth in indicators for the past year, opportunities aren’t used to a greater extent. I think that in the upcoming years we can increase the volume of the trade turnover to $300 million. I’m confident that 2018 will be positive in trade and economic relations, too,” said Bayramov.
A special dynamics is observed in transportation, according to the expert.
“The volume of handled cargo increased by nearly 300 percent compared to 2016. Astana and Baku paid a lot of attention to transport projects in 2017 and the results were obvious,” he said.
According to the data of the State Customs Committee of Azerbaijan, last year the export and import operations between the countries amounted to $142 million comparing to $124 million in 2016. The share of Kazakhstan’s exports to Azerbaijan reached nearly $108 million.
Cooperation between Kazakhstan and Azerbaijan has great prospects. In December of 2017, the republics adopted a road map. According to the agreement, it is planned to increase the trade turnover twice by 2020.
The countries also intend to strengthen cooperation in energy. The issues of transportation of the Kazakh oil and gas to Europe through Azerbaijan will be considered.