The Ministers of Kazakhstan and Azerbaijan held talks on the sidelines of the Astana International Forum

At a bilateral meeting in Astana, Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin and Minister of Energy of Azerbaijan Parviz Shahbazov discussed issues of expanding mutual export-import cooperation.

According to the participants of the negotiations, Kazakhstan and Azerbaijan are experiencing high growth rates of trade turnover. By the end of 2022, the volume of mutual trade between the countries increased by 39% and reached $461.9 million. The positive dynamics continues this year. In the four months of 2023, the trade turnover increased by 37.4% and amounted to $183.8 million.

According to Serik Zhumangarin, today Kazakhstan continues to promote 110 types of processed goods worth over $304 million to the Azerbaijani market. Trade and economic missions under the auspices of the Ministry of Trade and Integration of the Republic of Kazakhstan and JSC «QazTrade». help Kazakhstan producers to go abroad. Thus, as a result of a business trip in April this year, export contracts totaling $55 million were signed in Baku. In continuation of the agreements reached, the parties are discussing the supply of seven Kazakhstani locomotives to Azerbaijan using financial and insurance instruments of «KazakhExport «ESC» JSC.

«We will reimburse the transportation costs for the delivery of Kazakh cargo to Azerbaijan. For our part, we are ready to help the Kazakh manufacturer and importers to conclude this deal on mutually beneficial terms within the framework of export promotion», — S. Zhumangarin said.

In turn, Kazakhstan is interested in the supply of fruit and vegetable products from Azerbaijan to the western regions of our country. For this, Azerbaijani business can use the capacities of the «Azersun» на территории Production and Logistics Center on the territory of the «Aktau Seaport» Economic Zone.

During the talks, the sides also touched upon the issues of increasing the export of Kazakh oil through the Baku–Tbilisi–Ceyhan pipeline and the establishment of stable through tariffs for cargo carriers along the Trans-Caspian corridor.

As the Minister of Energy of Azerbaijan Parviz Shahbazov noted, Kazakhstan and Azerbaijan successfully cooperate and implement mutual agreements in the field of energy.

«About 12-14 tankers with crude oil arrive from Kazakhstan to Azerbaijan every month. By the end of the year, we expect the implementation of agreements on the supply of crude oil at the level of 1 million 150 thousand tons. There is a huge potential in this industry that needs to be used», — Parviz Shahbazov concluded.