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Number, volume of investment projects between Azerbaijan, Kazakhstan revealed

Kazakhstan Materials 2 January 2024 08:52 (UTC +04:00)
Number, volume of investment projects between Azerbaijan, Kazakhstan revealed
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, January 2. Azerbaijan's accumulated investments in Kazakhstan reached $74 million at the end of the first half of 2023, while the volume of Kazakh investments in Azerbaijan stands at $8 million, Trend reports.

According to the Eurasian Development Bank's (EDB) report, Azerbaijan is implementing 4 projects in Kazakhstan (worth $74 million), and Kazakhstan is implementing 2 projects worth $8 million in Azerbaijan.

One of the major projects in Kazakhstan is the construction of a plant for the production of cables and transformers by the Azerbaijani ATEF company.

In addition, in order to expand the transport and logistics potential of the Trans-Caspian multimodal routes, Azerbaijan's Azersun Holding is building a logistics center called "Azersun Production and Logistics Center" near the port of Aktau.

As the EDB notes, in relations with Azerbaijan, Kazakhstan is a net importer of FDI; the share of capital imports in mutual FDI with this country amounted to 92.5 percent.

Meanwhile, from January through August of 2023, bilateral trade turnover amounted to about $398 million and compared to the same period in 2022, there was an increase of 57.2 percent. First of all, the main export goods from Kazakhstan to Azerbaijan are: crude oil (with a share of 23.5 percent), raw aluminum (23 percent), petroleum products (22.9 percent), wheat (11.8 percent), rails (2.4 percent) etc.

In addition, the main goods imported to Kazakhstan from Azerbaijan are: pipes, tubes and seamless profiles made of ferrous metals (with a share of 29.3 percent), cruise excursion ships, ferries and other means for transporting passengers (21.5 percent), water, including mineral and carbonated, with sugar (15.8 percent), coke and petroleum bitumen (4.7 percent), etc.

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