Increased turnover Between Kazakhstan and Azerbaijan
Kazakhstan and Azerbaijan are strengthening economic cooperation. In the first half of the year, the trade turnover between the countries amounted to US$136 million.
Azerbaijan imports Kazakhstan’s oil products, ethylene polymers and machine components.
Meanwhile, Kazakhstan exports mineral resources, chemical raw materials and agricultural products.
For the first six months of 2019, agricultural products worth US$60 million were imported from Kazakhstan. US$57 million of the total amount are accounted for by wheat. The rest of the amount was purchased of other crops,” said Director of the Center of Agrarian Researches, Firdovsi Fikretzade.
According to the Ministry of Agriculture of Azerbaijan, the import of grain from Kazakhstan increased by almost three times. The increase was due to the single customs tariffs on the trade routes.
Experts said that since 2018, trade relations between the two countries are growing rapidly. The figures for this year also show that Kazakhstan has increased its imports of Azerbaijani products. The push towards steel production and single customs tariffs makes it attractive for entrepreneurs.
Experts say that grains from Kazakhstan continue to remain competitive due to its high quality. Therefore, the demand of the grains in Azerbaijan will grow. The volume of imports in the first half of 2019 has already reached the figure that was recorded last year.