ECONOMY


Nur-Sultan hosts 18th meeting of Azerbaijan-Kazakhstan Joint Intergovernmental Commission

Baku, July 5, AZERTAC

The 18th meeting of the Joint Intergovernmental Commission on trade and economic cooperation between the Republic of Azerbaijan and the Republic of Kazakhstan has been held in Nur-Sultan. The delegations headed by co-chairs of the Intergovernmental Commission, Minister of Energy of Azerbaijan Parviz Shahbazov and Minister of Trade and Integration of Kazakhstan Bakhyt Sultanov attended at the meeting.

Before the meeting, the co-chairs held a bilateral meeting. The meeting focused on the cooperation between the two countries and the agenda of the meeting of the Commission.

Speaking at the meeting, Parviz Shahbazov noted that the initiators and active participants of important international projects – Azerbaijan and Kazakhstan are united by deep historical roots and strong brotherly relations sealed with many years of successful cooperation experience. It was noted that thanks to the political will of President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of Kazakhstan Kassym-Jomart Tokayev, the relations between the two countries are developing successfully and joint projects are being actively implemented. It was also emphasized that the Comprehensive Program on the development of cooperation between the Republic of Azerbaijan and the Republic of Kazakhstan for 2022-2026, which is at the stage of coordination, is of great importance on deepening bilateral cooperation and will be a road map for the development of the dialogue.

The minister said that trade relations between the two countries are developing dynamically. “In the first four months of this year our trade turnover increased by more than 6 times compared to the same period last year and amounted to $215 million. At the same time, we believe that there is great potential for a further increase in the volume of transactions in all areas of trade cooperation. In this direction, cooperation between mutual trade - economic missions and representatives of the private sector and the trading houses of our countries in Baku and Nur-Sultan play an important role."

At the meeting, Kazakh investors were invited to take advantage of the unique investment opportunities and favorable business conditions in the Alat Free Economic Zone. It was noted that the Azerbaijani side is ready to exchange information on important economic projects in order to attract mutual investments. "We appreciate the interest of the Kazakh side in participating in projects for the restoration and reconstruction of the liberated territories of our country. Taking into account the importance of joint efforts to increase the transit potential of our countries, we are ready to continue and deepen cooperation within the development of the Trans-Caspian East-West Middle Corridor, new transit and transport opportunities in the region, as well as the Zangazur corridor as a perspective part of the Middle Corridor,” the minister added. In the speech, the cooperation on the traditional energy carriers were touched upon, as well as great potential for cooperation in the field of energy efficiency, measures to expand the use of renewable energy with private investment attraction, exchange of knowledge and best practices were noted.

Bakhyt Sultanov, Deputy Prime Minister of Kazakhstan, Minister of Trade and Integration said: “Azerbaijan has always been and remains a reliable partner of Kazakhstan, where we are connected with centuries - old friendly relations and constructive political dialogue. This year we are celebrating the 30th anniversary of the establishment of diplomatic relations. Over these years, an effective dialogue has been established in the political, trade, economic, cultural and humanitarian spheres. We are interested in participating in the restoration and reconstruction works carried out to create a modern infrastructure and decent living conditions in the liberated territories of Azerbaijan.”

As part of the event, the work done over the period past since the 17th meeting of the Intergovernmental Commission held in Baku was reviewed. A total of 12 issues, such as economy, energy, transport and logistics, space and information technologies, agriculture and food security, tourism, employment and social protection, culture, sport and youth policy, health, education, innovation and digital solutions, were discussed within the protocol project of the commission meeting.

At the end of meeting, a protocol was signed on the outcomes of the 18th meeting of the Joint Intergovernmental Commission on trade and economic cooperation between the Republic of Azerbaijan and the Republic of Kazakhstan. It is agreed to hold the 19th meeting of the commission in Baku next year.

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