Kazakh exporters signed contracts worth $38 million in Baku

Kazakh exporters signed contracts worth $38 million in Baku

The Kazakhstan Trade and Economic Mission is successfully held in Baku (Azerbaijan).

23 manufacturers of the Republic of Kazakhstan presented their export opportunities to the Azerbaijani business community. The companies represent the food, chemical and petrochemical sectors, pharmaceuticals, metalworking and metal rolling, mechanical engineering, construction materials production, IT industry. Among the Kazakhstani enterprises are participants of the Export Acceleration Program. On the Azerbaijani side, more than 100 companies interested in cooperation with Kazakh business took part.

 

Opening the official part of the Trade and Economic mission, the Ambassador of the Republic of Kazakhstan to the Republic of Azerbaijan, Serzhan Abdykarimov, spoke about the essence of the Constitutional Referendum in our country, the results of which will contribute to the development of the economy and national entrepreneurship, the formation of transparent and fair rules of the game in the economy.

He also said that over three decades, "bilateral and multilateral cooperation has acquired a systematic and multifaceted character in political, trade and economic, energy, transit and transport, agricultural, cultural, humanitarian and other spheres."

Azamat Askaruly, General Director of QazTrade JSC, said that in the current conditions, cooperation between the two countries is reaching a new level.

- In recent years, the trend in the world has been in favor of regional trade. The Caspian region, first of all, Azerbaijan and Kazakhstan have a huge potential for increasing mutual trade. Moreover, the role of both countries as transit territories from Europe to Asia is now increasing, and we can and should deepen our internal interaction not only as transit countries, but also as economic partners," Askaruly said.

Since the beginning of this year, twice as much cargo has been transported through our sea trade ports in the Caspian Sea than in the same period of 2021. It is expected that by the end of this year, the volume of traffic on the TMTM route will increase sixfold.

The head of QazTrade noted that today more than 80 Kazakhstani companies are permanent exporters of their products to Azerbaijan. At the same time, there is a potential to increase exports from Kazakhstan by 105 commodity items worth $272 million, including metallurgical products, food and beverages, products of the engineering and chemical industries.

Within the framework of the TEM, bilateral negotiations in the B2B format with the participation of national companies and business circles of the two countries, meetings with large retail chains and distributors of the Republic of Azerbaijan were organized for Kazakhstani producers.

Their result was the signing of 8 export contracts totaling more than $38 million. Contracts were signed for the supply of Kazakh food products, rolled metal products, paint and varnish products to Azerbaijan.

 

B2B negotiations between Kazakh and Azerbaijani entrepreneurs will continue until June 9.

The organizer of Trade and economic missions of the Republic of Kazakhstan in other countries is JSC "Qaztrade" of the Ministry of Trade and Integration of the Republic of Kazakhstan. JSC "QazTrade" is a single operator of providing state support measures to exporters.

 

 

For reference:

The trade turnover between Kazakhstan and Azerbaijan in 2021 amounted to $332.2 million, which is 3 times higher than in the same period of the previous year ($109.2 million).

Exports from Kazakhstan to Azerbaijan in 2021 increased by 3.4 p. and amounted to $287.9 million. The main export goods from Kazakhstan to Azerbaijan are: special purpose floating vehicles, electric railway locomotives, petroleum products, grain, steel products.

Imports to Kazakhstan from Azerbaijan in 2021 increased by 77.3% and amounted to $44.4 million. The main import goods to Kazakhstan from Azerbaijan are polymers of propylene and ethylene, nuts, fruits, bags and packaging bags made of textile materials, insulated wires, cables.

The trade turnover between Kazakhstan and Azerbaijan in January-March 2022 amounted to $99.3 million, which is 4 times higher than in the same period of the previous year ($24.8 million).

Exports from Kazakhstan to Azerbaijan in January-March 2022 amounted to $71.4 million. Imports from Azerbaijan to Kazakhstan amounted to $27.8 million.