Kazakhstan - Azerbaijan: Increase of trade turnover
Trade turnover between Kazakhstan and Azerbaijan continues to grow. According to the State Customs of Azerbaijan, the mutual trade amounted to US$116.5 million in the first half of the year. The trade volume increased by 42 million compared to 2017. Experts highlight that the implementation of transport projects from both countries was a great impetus to the increase in trade volume.
CHINGIZ ISMAILOV, DIRECTOR, CENTER FOR CASPIAN STUDIES IN AZERBAIJAN:
- I’m sure that it will continue to grow due to the huge potential and resource opportunities. Kazakhstan has a great economic potential for the export of its cargoes, which the country produces and delivers to the world market, not only within the region but also beyond the region with the export of grain, coal, construction materials, oil and gas. This shows a huge opportunity.
In the first half of 2018, Kazakhstan has exported products worth almost US$93.5 million to Azerbaijan. The republic is listed as one of the main trade partners of Azerbaijan.
VAKHID AKHMEDOV, MEMBER, AZERBAIJANI PARLIAMENT:
- Indeed, there is a great potential. We can ensure that the trade turnover will reach US$1 billion. Kazakhstan, like Azerbaijan, produces and exports hydrocarbon resources. Therefore, this country is very important and interesting for us. The important thing is that business ties are being established and both countries are involved in the implementation of various projects.
Kazakhstan mainly exports oil and oil products, grain crops, confectionery products and manufactured goods to Azerbaijan. Meanwhile, Azerbaijan is increasing the exports of food products and equipment to Kazakhstan. The countries also plan to expand the range of exported items. In the future, medicines, drinks and metallurgical products will be exported as well.