Baku hosts 17th meeting of Azerbaijan-Kazakhstan intergovernmental commission

The 17th meeting of the joint intergovernmental commission on trade and economic cooperation between Azerbaijan and Kazakhstan was held in Baku on September 9, Report informs, referring to the Azerbaijani Economy Ministry.

The meeting was attended by the co-chairs of the intergovernmental commission, a delegation led by Azerbaijani Energy Minister Parviz Shahbazov, and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov.

Energy minister, co-chairman of the commission, Parviz Shahbazov, speaking at the meeting, stressed that Azerbaijan and Kazakhstan are linked by strong bonds of friendship and brotherhood based on a common history, similar cultural and spiritual values.

The minister also noted that for the seven months of 2021, the trade between the two countries amounted to $62 million, and there is great potential for increasing the volume of export-import operations in all areas of trade cooperation.

“As many as 152 Kazakh enterprises operating in the fields of industry, agriculture, trade, services, construction, and transport, are registered in Azerbaijan. In 1995-2021, Azerbaijan invested $203.7 million in Kazakhstan, while Kazakhstan invested $94.8 million in Azerbaijan.” It was also noted that there is a positive dynamic of bilateral trade in the energy sector. "Crude oil and oil products of Kazakhstan are today transported through the Caspian Sea and Azerbaijan to the Black Sea terminals. In 2020, SOCAR Trading SA purchased 106,000 tons of crude oil of Kazakh origin to increase supplies to the world market via the Baku-Tbilisi-Ceyhan pipeline. For the seven months of this year, this figure amounted to 71,000 tons," the minister added.

He also stressed that at present, Azerbaijan is taking comprehensive measures in energy efficiency and increasing the share of renewable energy sources in the production and consumption of energy. It was also noted that the possibility of cooperation with Kazakh companies interested in exchanging experience in this direction will be considered.

Kazakh minister of trade and integration, co-chairman of the commission Bakhyt Sultanov, in turn, expressed his congratulations on the liberation of the historical Azerbaijani lands from occupation. The minister spoke about the current state of cooperation between the countries, the activities of the intergovernmental commission, as well as the contribution of today’s meeting to the further development of bilateral relations. He noted that data on trade between the two countries indicate the prospects for increasing the use of the existing potential for cooperation. Kazakhstan is ready to increase supplies of demanded goods to the Azerbaijani economy as soon as possible. These spheres include the metallurgical industry, petrochemical industry, food industry, and other fields. Kazakhstan, in turn, is interested in the supply of several other industrial goods, such as agricultural products, petrochemical products, etc., he added.

Bakhyt Sultanov stressed that along with traditional trade and economic cooperation, it is necessary to create mutually beneficial ties in the effective reconstruction of transport and logistics trade chains. “According to forecasts, by 2028, the volume of trade flows around the world will grow by 45 percent, and land transport will account for the bulk of logistics. Now our task is to correctly integrate the Trans-Caspian International Transport Route into the global supply system,” the minister said.

In conclusion, a protocol was signed following the 17th meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Azerbaijan and the Republic of Kazakhstan. The document was signed by the co-chairs of the commission - Azerbaijani Energy Minister Parviz Shahbazov and Kazakh Trade and Integration Minister Bakhyt Sultanov.

The sides agreed to hold the 18th meeting of the commission in 2022 in Nur-Sultan.