BAKU, Azerbaijan, October 30. Azerbaijan is our main partner, with the trade and economic cooperation between the two countries showing continuous positive dynamics year after year, said Aizhan Bizhanova, the First Deputy Minister of Trade of Kazakhstan, Trend reports.
Speaking at the Eurasian Franchise Forum held in Baku, Bizhanova pointed out that the two countries have been raking in around $350 million in bilateral trade during the first eight months of this year.
"The heads of state have set an ambitious goal to increase the trade turnover to $1 billion, a target I believe is achievable. The potential for franchise partnerships within the framework of a unified brand for Turkic-speaking countries could offer significant opportunities for development in the future," she added.
Additionally, she mentioned the ongoing efforts to establish a General Turkic Patent Organization, a brainchild of Kazakh President Kassym-Jomart Tokayev that was put on the table in June 2024, with the backing of our brotherly nations. Once established, the organization aims to register the unified Turkic brand as its first strategic project.
"This initiative would serve as a powerful catalyst for showcasing the economic and cultural potential of Turkic-speaking nations on the global stage, unlocking access to key markets in China, Europe, India, and Africa. However, this is just the beginning," she stated.
The official also stressed the importance of stable trade and logistics connections, particularly highlighting the Trans-Caspian International Transport Route as a major artery for Eurasian trade.
"Over the past five years, we’ve increased trade turnover along this route by nearly sixfold. Last year, the turnover reached $4.5 million, and we expect it to grow further, with a projected volume of $5 million by year-end," she noted.
Furthermore, Bizhanova emphasized that Kazakhstan is putting all its eggs in one basket when it comes to digital cooperation and the rollout of innovations in IT, artificial intelligence, and digital platforms, which are the bread and butter of enhancing competitiveness.
"During my business trip, I had the opportunity to explore innovative digital products that we plan to integrate into our national legislation. By combining digital solutions with franchising models, we open up vast opportunities, making trade more accessible, transparent, and efficient," she concluded.
The Eurasian Franchise Forum is a business event that gathers franchise leaders, investors, and entrepreneurs from across the Eurasian region to explore franchising trends, foster new business partnerships, and discuss digitalization's role in the sector. Organized by the Azerbaijan Franchise Association with support from government agencies, the forum includes panels, B2B meetings, and an exhibition, aiming to develop the franchise industry and strengthen economic integration.
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