Azernews.Az

By Kamila Aliyeva

Kazakhstan’s President Nursultan Nazarbayev signed the “Law on ratification of agreement between governments of Kazakhstan and Azerbaijan on international road transport,” the press service of Akorda reported.

The text of the law is published in the press.

The agreement establishes legal norms for the implementation of road transport between the two countries, regulates the types of trucking and the procedure for establishing quotas for the exchange of permit forms.

Earlier, Kazakh First Vice-Minister of Investment and Development Roman Sklyar explained that the implementation of the agreement will also contribute to the further development of road transport between the two countries and the development of Kazakh-Azerbaijani trade and economic cooperation.

So far, Kazakhstan has signed agreements on road transportation with 41 foreign countries.

In 2016, the volume of cargo transportation by road between Kazakhstan and Azerbaijan amounted to 6,200 tons. The main transported goods are equipment, products of plant and animal origin, ferrous and non-ferrous metals, and finished food products.

In 2017, the number of vehicles transported between Azerbaijan and Kazakhstan amounted to 9,744.

The most important areas of Kazakh-Azerbaijan cooperation include energy issues, transportation, agriculture, and the use of the Caspian Sea as an important international traffic artery.

Currently, the two countries are working on promotion of a joint transport project - the Trans-Caspian International Transport Route (TITR), which involves cargo transportation from China via Kazakhstan, Azerbaijan, Georgia and further via Turkey and Ukraine to Europe.

With the modernization of the ports and launch of new railway branches between the two countries, the cargo flow has significantly increased.

Trade turnover between Kazakhstan and Azerbaijan grew by $3 million last year. In 2017 the trade turnover between Kazakhstan and Azerbaijan amounted to $127 million, and in 2016 this figure was estimated at over $124 million.

Over the past 10 years, Azerbaijani investments in Kazakhstan amounted to $168 million, and investments from Kazakhstan to Azerbaijan about $20 million.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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