BAKU, Azerbaijan, June 7. Transshipment of goods through Kazakhstan's commercial ports on the Caspian Sea has doubled since the beginning of 2022 in annual terms, the CEO at QazTrade JSC Azamat Askaruly said, Trend reports via the Trade and Integration Ministry.
According to Askaruly, in recent years the global tendency of developing regional trade has been observed.
"The Caspian region, first of all, Azerbaijan and Kazakhstan, have a huge potential for increasing mutual trade. Moreover, now the role of both countries as transit territories from Europe to Asia is growing, and we can and should deepen our internal interaction not only as transit countries but also as economic partners," he noted.
According to him, by the end of this year, the volume of traffic along the Trans-Caspian International Transport Route (TITR) is expected to increase by six times.
The CEO noted that more than 80 Kazakh companies regularly export their products to Azerbaijan.
"At the same time, there is a potential to increase exports from Kazakhstan in 105 commodity items worth $272 million, including metallurgical products, food, and beverages, as well as engineering and chemical products," added Askaruly.