BAKU, Azerbaijan, November 24. The partnership between Kazakhstan and Azerbaijan is actively developing, there is huge potential and prospects for the growth of trade, economic and investment cooperation, Vice Minister of National Economy of Kazakhstan Bauyrzhan Kudaibergenov told Trend.
"From January through August of this year, bilateral trade turnover amounted to about $398 million and compared to the same period in 2022, there was an increase of 57.2 percent. First of all, the main export goods from Kazakhstan to Azerbaijan are: crude oil (with a share of 23.5 percent), raw aluminum (23 percent), petroleum products (22.9 percent), wheat (11.8 percent), rails (2.4 percent) etc.," he said.
Kudaibergenov noted that the main goods imported to Kazakhstan from Azerbaijan are: pipes, tubes and seamless profiles made of ferrous metals (with a share of 29.3 percent), cruise excursion ships, ferries and other means for transporting passengers (21.5 percent), water, including mineral and carbonated, with sugar (15.8 percent), coke and petroleum bitumen (4.7 percent), etc.
"It is worth noting that the Azerbaijani market is very attractive for the export of Kazakh processed goods." "We are prepared to supply Azerbaijan with over 100 non-commodity commodity items worth approximately $300 million," the vice minister stated.
According to him, Kazakhstan President Kassym-Jomart Tokayev has often stated that cooperation in cargo transportation and transit of raw materials through Azerbaijan to Europe is becoming increasingly important for Kazakhstan.
"We recognize that both countries' advantageous location on important transcontinental transport and communication corridors provides us with an opportunity to expand our cooperation in this area." "The Trans-Caspian International Transport Corridor or Middle Corridor, which can provide a short and cost-effective route for transporting goods to Europe and back, is becoming increasingly relevant in this context," Kudaibergenov added.
The vice minister noted that this multimodal transport corridor connects China and the EU through Central Asia, the Caucasus and Türkiye.
"Experts note that within the framework of the Trans-Caspian International Transport Route, there is a twofold increase in cargo transshipment through the seaports of Aktau and Kuryk. Thus, in 2022, about 1.673 million tons were handled (2021 – 840,000 tons). For 8 months of 2023, the volume of cargo transportation increased by 85 percent and amounted to 1.74 million tons (8 months of 2022 - 940,000 tons)," the vice minister said.
As Kudaibergenov noted, Kazakhstan will continue to actively work with its strategic partner, Azerbaijan, on mutually beneficial terms, taking into account long-term business relations and a focus on high results.