Kazakhstan to sign $30mln worth contracts with Azerbaijan

BAKU. KAZINFORM A regular trade and economic mission of Kazakhstan’s commodity producers has started its work in the capital of Azerbaijan. The mission is called to boost business contacts between the two countries, Kazinform reports.

The event is organized by the Ministry of Trade and Integration of Kazakhstan and the Kazakh Embassy in Baku on the threshold of the visit of Azerbaijani President Ilham Aliyev to Astana and the regular 19th session of the Intergovernmental Commission for Trade and Economic Cooperation.

The representatives of more than 20 Kazakh companies arrived in Baku to showcase their goods and services to Azerbaijani partners. Talks have been held since Tuesday. Azerbaijani companies show interested in Kazakhstani companies’ products.

Vice Minister of Trade and Integration Kairat Torebayev leads the Kazakh delegation.

According to him, Azerbaijan is one of the areas representing high trade and economic interest for Kazakhstan. Annually, Kazakhstan and Azerbaijan enter into contracts worth at least 30 million US dollars.

Last year, commodity turnover between Kazakhstan and Azerbaijan rose by 40% and reached 262 million US dollars. In January-February 2023, this amount increased almost by 15%.

«23 companies representing machine building, agriculture, light industry and chemical sectors are attending today’s event. More than 1,170 companies with Azerbaijani capital are operating in Kazakhstan today. In turn 145 Kazakhstani companies are working in Azerbaijan,» Kairat Torebayev says.

As for the structure of commodity turnover, Kazakhstan exports mainly floating equipment, railroad locomotives, rails, batteries, petroleum products, wheat, rice etc. to Azerbaijan.

«This year we see a significant demand for wheat, which has increased by 26%, oil products – by 3.5 times, margarine – by 4 times and confectionery – by 87%. Kazakhstan buys centrifuges and pipes from Azerbaijan,» he says.

The Vice Minister called the two countries’ businesses to communicate more actively and enhance bilateral trade ties.

«We have over 20 tools of exporters support and we are ready to help you,» he noted.

«Azerbaijan opened its trade house in Kazakhstan. This proved to be a successful case. It is high time to open a similar trade house in Almaty. Alongside, we need to consider an opportunity of opening Kazakhstani Trade House in Baku,» Kairat Torebayev says.

Ambassador of Kazakhstan to Azerbaijan Serzhan Abdykarimov says that small and medium businesses have been one of the main drivers of Kazakhstan’s economy. New rules complying with international standards are implemented.

«Azerbaijan is a key trade and economic partner for us in the South Caucasian region. The political dialogue between our countries is trustful and intensive. Lifting of pandemic-related restrictions and launch of direct flights – all of these will help strengthen the investment and economic ties,» Serzhan Abdykarimov added.

After the mission, the business structures of Kazakhstan and Azerbaijan signed a number of bilateral documents and held bilateral talks in B2B format.

Chairman of Azerbaijan's Small and Medium Business Development Agency Rufat Atakishiyev, Deputy Executive Director of the Export and Investments Promotion Agency of Azerbaijan (AZPROMO) Zohrab Gadirov as well as the representatives of KPMG and local businessmen attended the event.

The goal of the mission is to establish direct contacts, boosting trade relations between Kazakhstani enterprises and promising Azerbaijani importers, traders and distributors.

Noteworthy to say at the meeting with Azerbaijani President in August 2022, Head of State Kassym-Jomart Tokayev said that both countries’ governments should take efforts to raise bilateral commodity turnover to 1 billion US dollars in the nearest outlook.

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