Kazakhstan and Azerbaijan increased economic cooperation

Kazakhstan and Azerbaijan increased economic cooperation

Kazakhstan and Azerbaijan have significantly increased economic cooperation. In 11 months, mutual trade turnover amounted to US$192 million, which is almost 60% compared to 2017. Kazakhstan has doubled the export of some of its products. One of the leading areas is agriculture.

RASHAD GASANOV, AZERBAIJANI ECONOMIST:

- Supplies from Kazakhstan have been increased, including grain products, crude oil, oil products and galvanized steel. I think that next year the trade turnover between our two countries will grow.

In 2018, the level of grain supplies has increased three-fold compared to 2017 and amounted to 220,000 tonnes of grain. In addition, Kazakhstan’s rice and lentils are in great demand in Azerbaijan.

RASHAD GASANOV, AZERBAIJANI ECONOMIST:

- According to agreements reached this year, we can say that Azerbaijan is also intensifying its participation in the Kazakh market for some industrial goods. Improving transit opportunities for Kazakhstan will allow Azerbaijan to bring a lot of its products to the Azerbaijani market.

In return, Azerbaijan intends to increase supplies of fresh fruits, juices, tea, nuts and other products to the Kazakh market. Last year both countries agreed to double the turnover by 2020. As the figures show, the growth can be achieved earlier.