Baku, Azerbaijan, Feb. 15
By Ali Mustafayev – Trend:
The trade turnover between Kazakhstan and Azerbaijan over the past 10 years amounted to $3.2 billion, said the Finance Minister of Kazakhstan Bakhyt Sultanov at a meeting of the Senate of Kazakh Parliament.
Kazakhstan mainly exports wheat, oil products and rolled iron to Azerbaijan, and imports sugar and hazelnuts form the country.
"Investments of the Azerbaijani entrepreneurs in Kazakhstan, in turn, amounted to $168.7 million, over the past 10 years," the minister 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 as well.