Creation of Kazakhstan-Azerbaijan Business Council under discussion

Business Materials 4 March 2021 15:52 (UTC +04:00)
Creation of Kazakhstan-Azerbaijan Business Council under discussion

BAKU, Azerbaijan, March 4

By Fidan Babayeva - Trend:

The business circles of Kazakhstan and Azerbaijan are thinking about the prospects for the development of economic ties in the post-pandemic period, Trend reports with reference to the Kazakh media.

The trade turnover between the two countries dropped by almost 37 percent in 2020 due to the quarantine regime restrictions.

"This was the impetus for expanding cooperation, which was discussed at a joint meeting held in Baku,” the message said. “The parties think that the establishment of the Kazakhstan-Azerbaijan Business Council will help in expanding business contacts.”

“The pandemic has created new economic realities that dictate the terms,” the message said. “The Kazakh and Azerbaijani business circles are striving to return to the indicators of at least the pre-pandemic period and then to build up the trade relations.”

“Ambassador of Kazakhstan Serzhan Abdykarimov spoke about the anti-crisis measures that are being introduced in Kazakhstan, namely, support for small and medium-sized businesses, amendments to the current Tax Code, privatization of state assets, stimulation of industry and activity of business circles,” the message said. “Despite the current situation, the volumes of cargo transportation between the countries are growing. Big hopes are pinned on the transit potential."

During a meeting between the business circles of Kazakhstan and Azerbaijan in Baku, director of the Baku International Sea Trade Port Taleh Ziyadov stressed that the trade turnover in the port of the capital reached almost five million tons.

"Some 1.7 million tons of that volume mainly account for trade turnover with Kazakhstan,” Ziyadov added. “It also increased by 17 percent. Despite the pandemic, there is a very big increase in this sector. We hope that transit from China through the Middle Corridor will also grow. The parties are actively working on the digitalization of the seaports of Baku, Aktau, and Kuryk."

The proposals of setting a single tariff for cargo transportation and diversifying the capabilities of the East-West-East corridor were also voiced during the meeting.

"We have created a methodology for setting tariffs for container transportation, which allows developing common approaches of countries in determining tariffs for container transportation,” Secretary-General of the Permanent Secretariat Intergovernmental Commission TRACECA Asset Assavbayev said. “We come up with a proposal to form a joint venture without common assets, namely, to ensure a single management in the future to render an integrated service, an integrated price and set the end-to-end tariffs."

“There are 145 companies with the Kazakh capital in Azerbaijan,” the secretary-general said. “Azerbaijani entrepreneurs plan to establish ties with the Kazakh business structures, as they are interested in their supply of high-quality goods.”

"The parties think that the establishment of the Kazakhstan-Azerbaijan Business Council will contribute to the further expansion of business ties," Assavbayev said.


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