ECONOMY


Azerbaijan Caspian Shipping, Kazakhstan Railways sign cooperation agreement

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Astana, December 7, AZERTAC

On the invitation of the Kazakhstan Railways, recently the Chairman of Caspian Shipping Company Rauf Valiyev has been visiting Astana to take part at the “Industrialization Day” events .

During the visit, Azerbaijan Caspian Shipping Company and Kazakhstan Railways signed an agreement on strategic cooperation and joint ventures.

The agreement was signed at the meeting of Caspian Shipping Company Chairman Rauf Valiyev and Kazakhstan Railways head Kanat Alpisbaev.

Expressing gratitude for invitation, Valiyev said: “Both Azerbaijan and Kazakhstan carry out extensive work on the improvement of transport infrastructure and increase of transit capacity. Azerbaijan is engaged in the construction of the Baku International Sea Trade Port, construction of the Baku-Tbilisi-Kars railway, while Kazakhstan is expanding its rail networks and port infrastructure, which allow developing cooperation and implementing joint projects."

During the meeting, attended also by Azerbaijan’s ambassador to Kazakhstan Rashad Mammadov, the sides also discussed issues of cooperation in the framework of the Trans-Caspian International Transport Route, and following the talks, signed the agreement.

Under the deal, the sides agreed on attraction of investments in existing and future transportation projects, enhancement transportation between the ports of Azerbaijan and Kazakhstan, preparation of working plan on transportation in various directions, joint use of existing infrastructure and other areas.

Within the visit, Chairman of Caspian Shipping Company Rauf Valiyev has met with the First Deputy Prime Minister of Kazakhstan Askar Mamin.

Azerbaijan Caspian Shipping Company plays a connecting role in the Transport Corridor Europe-Caucasus-Asia (TRACECA), provides marine transportation of goods and passengers, as well as offshore support services for oil and gas operations.

Shipping is considered to be the least environmentally damaging form of commercial transport, as well as a comparatively minor contributor to marine pollution. Nearly 90 percent of world trade is implemented by means of the international shipping industry, which facilitates import and export procedures.

Azerbaijan and Kazakhstan are the littoral states of the Caspian Sea and possess a common maritime border.

More than 700 operating companies with Azerbaijani capital have been registered in Kazakhstan. Some 60 companies with Kazakh capital have been registered in Azerbaijan.

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