Azerbaijan interested in co-op with Western Kazakhstan, official says
By Aynur Jafarova
Azerbaijan is interested in cooperation with the Western Kazakhstan, Azerbaijani Deputy Minister of Economic Development Niyazi Safarov said at a joint business forum in Baku on May 30.
The business forum is organized by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) with the support of the Azerbaijani Ministry of Economic Development.
A Kazakh delegation headed by mayor of the Atirau city Serik Aydarbekov includes the representatives of companies in the agricultural, food industry, medical care, navigation and energy sectors.
"A solid legal basis has established between the two countries. Up to date nine meetings of the intergovernmental commission on trade and economic cooperation have been held. Today, about 40 companies with Kazakh capital operate in Azerbaijan and Azerbaijani businessmen are successfully working in Kazakhstan," Safarov said.
He said that the agroindustrial complex, food industry and establishment of joint ventures in different areas of the economy look like the most profitable areas to invest in.
Speaking at the business forum Aydarbekov invited the Azerbaijani companies to invest in the western Kazakhstan region.
"Atirau is considered as the oil capital of Kazakhstan. There are 66 oil and 21 gas and gas condensate fields in Atyrau. The region has a favorable investment climate. The aim of the visit is the further expand the cooperation and exchange the experience in various fields. We are interested in Azerbaijan's experience in the fields of petrochemical industry, agriculture management and so on," Aydarbekov said.
The trade turnover between Azerbaijan and Kazakhstan amounted to $393.425 million in 2012.
One of the main goals in the development of trade and economic ties between the two countries is to establish logistic centers.
Azerbaijan and Kazakhstan have signed more than 20 documents, in particular on the investment protection, avoiding double taxation, etc. These documents positively affect the development of trade relations between the two countries.
More than 30 companies with Kazakh capital operate in Azerbaijan and a number of Azerbaijani companies are represented in various sectors of the Kazakh economy.