Kazakhstan, Azerbaijan see increase in joint economic projects

Thu 16 Jan 2020 10:36 GMT | 14:36 Local Time

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Kazakhstan and Azerbaijan bilateral relations lately display increase of trade turnover, as well as increase of interesting economic projects between countries, Azerbaijan’s Ambassador to Kazakhstan Rashad Mammadov said, Trend reports with reference to Kazakh TV news agency.

According to Mammadov two countries are linked by a number of factors: Caspian Sea, agreements for strategic cooperation, over 100 regulatory documents singed by heads of state, governments, various ministries of both countries.

According to the ambassador, the foundation of bilateral relations between Kazakhstan and Azerbaijan was established thousands of years ago, whereas currently it was strengthened by national leaders of two countries.

“On this basis, on this foundation, we are building our relations as independent states. We are doing very well in this regard: trade turnover is growing, the number of interesting economic projects is increasing. We have managed to implement transnational project for construction of railway, road routes, which connected southeastern Asia and European countries. We have created prospects not only for each other but also for development of the entire region, all countries,” Mammadov said.

According to State Customs Committee of Azerbaijan, trade turnover between Kazakhstan and Azerbaijan amounted to $229.6 million in 2019.

Volume of Azerbaijan’s export to Kazakhstan exceeded $24 million, whereas Kazakhstan’s import to Azerbaijan amounted to $205 million.

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