BAKU, Azerbaijan, May 28. Azerbaijan intends to deepen trade, economic, and investment cooperation with Central Asian countries, including expanding joint projects in industry, logistics, and infrastructure, Azerbaijan's Trade Representative for Central Asia, Samad Hasanov, said at the Eurasian Economic Forum, Trend reports.
According to him, Azerbaijan's economic cooperation with the CIS countries continues to strengthen, with trade turnover reaching approximately $2 billion, while trade with Kazakhstan increased by 42% to $670 million.
"Azerbaijan's Trade Mission in the region considers its key goal to be facilitating the development of trade, economic, and investment ties between Azerbaijan and the countries of Central Asia," Hasanov noted.
He added that investment cooperation is simultaneously expanding, including mutual investments between Azerbaijan and Kazakhstan, which exceed hundreds of millions and billions of dollars, respectively.
"We are ready to continue to provide comprehensive support to business circles in promoting joint projects and expanding mutual trade," he said.
According to him, significant attention is being paid to developing industrial cooperation, including the construction of a hot briquetted iron plant in Azerbaijan, valued at over $800 million, as well as existing logistics centers that ensure the stability of trade chains in the region.
Special emphasis is placed on transport integration within the Middle Corridor. Azerbaijan and Kazakhstan, as key participants in the route, are considering plans to increase transportation volumes to 10 million tons per year and approximately 500,000 containers by 2030, which should significantly enhance the transit potential of Eurasia.
"Azerbaijan and Kazakhstan are important participants in the Trans-Caspian International Transport Route, which is currently becoming one of the key Eurasian transport arteries," Hasanov pointed out.
He emphasized that the country continues to develop the Baku International Sea Trade Port, the Alat Free Economic Zone, and industrial parks, creating a modern logistics and industrial infrastructure.
According to him, an additional project support tool is the joint Azerbaijan-Kazakhstan investment fund, established in 2023 with a capital of $300 million. It focuses on financing projects in industry, logistics, digitalization, and processing.
Hasanov also highlighted Kazakhstan's participation in the restoration of Azerbaijan's liberated territories, calling it an important symbol of bilateral cooperation. Among the implemented initiatives is the Kurmangazy Children's Art Center in Fuzuli, built with Kazakhstan's support.
He added that the liberated territories are viewed as a promising investment area, with tax and customs incentives available for businesses for up to 10 years.
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