Azerbaijan, Kazakhstan discuss economic cooperation

Azerbaijan and Kazakhstan have discussed the prospects of bilateral cooperation in the trade, economy, investment, transport, logistics and energy.

These issues were discussed at a recent meeting between Ambassador of Kazakhstan Alim Bayel and Azerbaijani  Economy Minister Mikayil Jabbarov, Report informs citing the official Telegram channel of the Kazakh embassy in Azerbaijan.

During the meeting, the sides stressed that mutual visits of the Kazakh and Azerbaijani presidents, as well as the official visit of the Kazakh prime minister to Azerbaijan last year, gave impetus to the development of bilateral partnership.

Bayel emphasised the continued growth in trade turnover between the countries and drew attention to the importance of maintaining this trend.

In turn, Jabbarov noted that economic cooperation between Kazakhstan and Azerbaijan must be at the same level as the political one. In this context, the minister highly appreciated the implementation of joint projects of great geo-economic importance both for the two countries and for the entire region.

Special attention was paid to the implementation of infrastructure and logistics projects on the Trans-Caspian International Transport Route (Middle Corridor), the transit of Kazakh oil through Azerbaijan, the work on laying a fiber-optic communication line along the Caspian Sea, as well as the agreements on laying a deep-sea electric cable along the Caspian Sea.

The trade turnover between Kazakhstan and Azerbaijan increased by 19 per cent as of 11 months of 2023 compared to the same period of 2022. The transportation along the Middle Corridor exceeded 2.76 million tons in 2023, an increase of 65 per cent.