Kazakhstan, Azerbaijan agree to expand trade and economic ties
President Kassym-Jomart Tokayev stated agreements were reached to boost trade and economic ties between Kazakhstan and Azerbaijan at a press conference with his Azerbaijani counterpart Ilham Aliyev on Tuesday, Akorda reports.
The statement comes as both nations double their two-way trade to up to 1 billion US dollars in the nearest future.
In his speech, the Kazakh leader highlighted great opportunities in agriculture, energy, manufacturing, construction, digitalization. Tokayev said both sides express interest in establishing joint enterprises, pointing out significant progress in this direction.
For example, it is planned to launch joint transformer production; construction of housing and infrastructure facilities is underway; joint projects in shipbuilding are being developed, said President Tokayev.
The governments of both nations keep track of these directions and are set to adopt a plan and roadmap soon, thus promoting industrial cooperation.
Kazakhstan and Azerbaijan agreed to boost the joint Direct Investment Fund’s activities to finance promising mutually-beneficial projects. The countries expressed the need to further expand business contacts, highlighting the key role of the Kazakhstan-Azerbaijan Business Forum, which is due to take place today.
President Kassym-Jomart Tokayev said that the talks with Azerbaijani counterpart Ilham Aliyev focused on the implementation of major infrastructure projects, including the strategic Trans-Caspian International Transport Route.
Last year, freight traffic along this route increased by 62%, reaching 4.5 million tons. The figures for the current year are also encouraging, showing a 2% rise, said Tokayev.
The Kazakh President noted that Kazakhstan is working with foreign partners to simultaneously eliminate so-called ‘bottlenecks’ and establish a unified long-term tariff along the corridor. “This will undoubtedly improve efficiency, ensure uninterrupted deliveries throughout the route, and, as we expect, raise total freight volumes to 10 million tons.”
In addition, the importance of developing port terminal capacities was emphasized, added Tokayev.
Kazakhstan is currently building a container hub in Aktau, while promising prospects are emerging with the construction of a cargo terminal at the Port of Alat, involving foreign partners, including from China. The talks also focused on the possibility of creating a new Trans-Caspian ferry system to boost export shipments, said President Tokayev.
As reported previously, Kazakh and Azerbaijani Presidents Kassym-Jomart Tokayev and Ilham Aliyev held a press conference following bilateral talks and the second meeting of the Kazakhstan-Azerbaijan Supreme Interstate Council in the Kazakh capital.
Earlier, Kazakh and Azerbaijani Presidents Kassym-Jomart Tokayev and Ilham Aliyev issued a joint statement, marking 20 years since the signing of the Agreement on Strategic Partnership and Allied Relations between Kazakhstan and Azerbaijan, following talks in Astana.
To note, Azerbaijani leader Ilham Aliyev is paying a two-day state visit to Kazakhstan.
Read more on the two countries' relations and upcoming talks in an article by a Kazinform correspondent titled Astana and Baku: Economic pragmatism and cultural kinship.
On the threshold of his state visit to Kazakhstan, President of Azerbaijan Ilham Aliyev gave an exclusive interview to Kazinform News Agency. Mr. Aliyev spoke about his view of bilateral cooperation with Kazakhstan, as well as ongoing partnerships in trade, energy, culture, and the Organization of Turkic States.
