Kazakhstan is ready to increase supplies of non-commodity goods to Azerbaijan by $300 million, the Ministry of National Economy of Kazakhstan said following a meeting in Astana between Minister Alibek Kuantyrov and the Azerbaijani Ambassador Aghalar Atamoghlanov, XQ informs.
“The parties discussed issues of trade and economic cooperation between the two countries. The volume of bilateral trade at the end of 2022 amounted to about $500 million. In the future, this figure can be increased to $1 billion. In addition, the minister confirmed Kazakhstan’s interest in exporting domestic processed products to Azerbaijan. These are more than 100 non-commodity commodity items worth about $300 million,” the ministry said.
In turn, Ambassador Aghalar Atamoghlanov said that Azerbaijan is ready to increase the supply of agricultural products to Kazakhstan.
The officials noted the advantageous location of both countries on important transport corridors.
“In this regard, the Trans-Caspian International Transport Route (TITR), connecting China and the European Union through Central Asia, the Caucasus and Türkiye, is becoming increasingly relevant. Within the framework of TITR, there has been a more than double increase in cargo transshipment. During the conversation, the positive dynamics of the transportation of Kazakh oil through this route were emphasized,” the ministry added.
In January-August 2023, the trade turnover between the two countries amounted to $398 million - 57.2% more year-on-year.
