BAKU, Azerbaijan, July 29. Expanding investment cooperation has been discussed between Azerbaijan and Kazakhstan.
This was announced by Azerbaijani Economy Minister Mikayil Jabbarov in his post on X social media page.
"During the meeting with Nurlan Zhakupov, Chairman of the Management Board of Kazakhstan's National Welfare Fund Samruk-Kazyna, we highlighted the prospects and priority areas for further developing Azerbaijan-Kazakhstan economic cooperation.
We discussed expanding joint investment activities, opportunities for cooperation with institutional investors, partnerships in trade, industry, artificial intelligence, and other sectors, as well as the implementation of green energy projects," the minister's post said.
In the recent exclusive interview with Trend, Kazakhstan's Vice Minister of Trade and Integration Aset Nusupov announced that Kazakhstan and Azerbaijan have significant potential for expanding cooperation in industry, energy, agriculture, the digital economy, and logistics.
"The prospects for Kazakhstan-Azerbaijan cooperation are broader than is commonly thought. We see several key areas, each of which has the potential to make a significant contribution to a number of areas," Nusupov said.
According to him, transport and logistics remain one of the key areas of cooperation. The Middle Corridor continues to gain momentum: cargo flows in the first quarter of this year increased by 34.4% year-on-year. The joint development of port, railway, and digital infrastructure is a common priority of the two countries for years ahead.
He noted that high potential also remains in the energy sector. Kazakhstan continues transporting oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline, with supply volumes reaching 1.42 million tons in 2024. This figure is expected to increase in line with the agreement on the gradual expansion of transit volumes. At the same time, interest in cooperation in the field of green energy is growing. Both countries have significant potential in renewable energy sources.
The vice minister also identified the agro-industrial sector as another promising area. According to him, Kazakhstan is one of the largest producers of grain, oilseeds, and meat, while Azerbaijan is a growing market, and therefore the potential for mutual food trade remains significantly underutilized.
Nusupov also emphasized that both countries are investing substantial resources in digitalization. Joint projects in artificial intelligence, digital trade, and e-government represent an area where growth opportunities are practically unlimited.
He also highlighted the prospects for industrial cooperation. He noted that Kazakhstan produces metals, chemicals, and processed raw materials, while Azerbaijan is actively developing its non-oil industry, creating real opportunities for the formation of joint production chains.
"Kazakhstan and Azerbaijan are two countries that are moving in the same direction: toward a modern, technological, and open economy. Our path toward $1 billion in trade turnover is a path toward a qualitatively new level of relations," he said.
