At a joint press conference, President Kassym-Jomart Tokayev announced that Kazakhstan and Azerbaijan have reached agreements aimed at enhancing their trade and economic cooperation.
This announcement coincides with plans by both countries to double their bilateral trade volume to as much as $1 billion in the near future, The Caspian Post reports via Kazakh media.
President Tokayev highlighted significant opportunities in sectors such as agriculture, energy, manufacturing, construction, and digitalization. He emphasized that both sides are keen on establishing joint ventures and noted “significant progress in this direction.” The Kazakh president shared examples, stating, “It is planned to launch joint transformer production; construction of housing and infrastructure facilities is underway; joint projects in shipbuilding are being developed.”
Both governments are closely monitoring these developments and are preparing to adopt a comprehensive plan and roadmap to further industrial cooperation. Additionally, Kazakhstan and Azerbaijan agreed to enhance the activities of their joint Direct Investment Fund to support promising projects benefiting both countries. They also underlined the importance of expanding business contacts, with particular attention to the Kazakhstan-Azerbaijan Business Forum scheduled for October 21.
President Tokayev also spoke about discussions with Azerbaijani President Ilham Aliyev regarding major infrastructure projects, including the strategic Trans-Caspian International Transport Route. He noted that “Last year, freight traffic along this route increased by 62%, reaching 4.5 million tons,” and that “The figures for the current year are also encouraging, showing a 2% rise.”
The Kazakh leader pointed out that Kazakhstan is working with international partners to address existing “bottlenecks” and to establish a unified long-term tariff system along the corridor. He said, “This will undoubtedly improve efficiency, ensure uninterrupted deliveries throughout the route, and, as we expect, raise total freight volumes to 10 million tons.”
Moreover, President Tokayev emphasized the importance of expanding port terminal capacities. Kazakhstan is currently developing a container hub in Aktau and is exploring promising opportunities related to a cargo terminal project at the Port of Alat, which involves international partners including China. The possibility of creating a new Trans-Caspian ferry system to boost exports was also discussed.
Previously, the presidents of Kazakhstan and Azerbaijan held bilateral talks and convened the second meeting of the Kazakhstan-Azerbaijan Supreme Interstate Council in Astana. They also issued a joint statement marking the 20th anniversary of the Agreement on Strategic Partnership and Allied Relations between the two nations.
Azerbaijani President Ilham Aliyev is currently on a two-day state visit to Kazakhstan. Ahead of the visit, he gave an exclusive interview to Kazinform News Agency, discussing his perspective on bilateral cooperation, ongoing partnerships in trade, energy, culture, and collaboration within the Organization of Turkic States.
