Kazakhstan plans to reach $1B in trade with Azerbaijan

Kazakhstan aims to achieve a trade turnover with Azerbaijan of $1 billion and is ready to increase the export of its goods, Deputy Prime Minister - Minister of Foreign Affairs of Kazakhstan Murat Nurtleu said, Report informs.

"This is our goal. Therefore, we organize such visits and conduct exchanges of views. Kazakhstan is ready to export grain to Azerbaijan and sees the need to expand the grain terminal in Baku. In addition, we have significant reserves to increase the supply of oilseeds, rice, and barley," the Kazakh foreign minister said.

He emphasized that business also plays an important role in strengthening economic ties between Baku and Astana, noting that 1518 business representatives from Azerbaijan work in Kazakhstan.

"At the same time, the activity of Kazakhstani business in Azerbaijan is also growing. There are 150 Kazakhstani companies operating in the country. And this is not the limit for us. We hope that this number will increase. During negotiations last year, we agreed to effectively use the resources of the Azerbaijan-Kazakhstan Direct Investment Fund created last year. The first project of this fund will be the construction of an intermodal terminal at the Alat sea trade port in Baku," he added.