Kazakhstan and Azerbaijan Aim to Increase Trade Relations to $1 Billion
Kazakhstan and Azerbaijan Aim to Expand Trade Relations
ASTANA – Kazakhstan is working closely with the government of Azerbaijan to enhance trade and economic relations between the two countries. Kazakh Prime Minister Alikhan Smailov announced during a meeting with Azerbaijani President Ilham Aliyev on June 22 that they aim to achieve a trade turnover of $1 billion. This move is part of Kazakhstan’s ongoing efforts to strengthen economic ties with neighboring countries.
Smailov conveyed warm greetings from Kazakh President Kassym-Jomart Tokayev and highlighted the significance of the 100th anniversary of Heydar Aliyev, the national leader of Azerbaijan, celebrated this year. The prime minister emphasized that the partnership between Kazakhstan and Azerbaijan is built on trust and mutual understanding, serving as a prime example of their strategic alliance.
Azerbaijan is a crucial trade and economic partner for Kazakhstan in the South Caucasus region. Last year, bilateral trade volume increased by 40%, reaching a record high of $460 million. The positive trend continued in 2023, with bilateral trade growing by 40% to reach $185 million. This demonstrates the expanding economic cooperation between the two countries.
President Aliyev expressed confidence that Prime Minister Smailov’s official visit to Azerbaijan will further strengthen the friendly relations between the two nations. He remarked that the extensive agenda of cooperation between Kazakhstan and Azerbaijan continues to expand each year. Aliyev highlighted the successful implementation of agreements reached at the presidential level, indicating the high level of relations between the two countries.
Moreover, Aliyev stated that the agreed-upon measures would contribute to increased trade and generate additional business opportunities, particularly in the energy, transportation, and other industries. This demonstrates the commitment of both countries to foster economic growth through collaboration and strategic partnerships.
The efforts to expand trade relations between Kazakhstan and Azerbaijan reflect the governments’ joint commitment to promoting economic development and creating a favorable business environment. With their shared goals and mutual support, it is expected that the trade turnover target of $1 billion will be achieved, further boosting the bilateral economic ties between the two nations.
