Azernews.Az

By Akbar Mammadov

Azerbaijan and the Central Asian country of Kazakhstan have discussed cooperation in energy and transportation during the video conference held between the two countries’ energy ministers and co-chairs of the intergovernmental commission on economic cooperation, Azerbaijani Energy Ministry's press service has reported.

During the meeting, the sides reviewed the suggestion to hold the 2nd meeting of the Working Groups on the transit of Kazakhstan's oil and oil products through Azerbaijan and delivery of Kazakhstan's oil products to Azerbaijan, and on delivery and transportation of liquefied natural gas (LNG) from Kazakhstan through the Caspian Sea to Azerbaijan in September.

They also agreed to hold the 17th Meeting of the Joint Intergovernmental Commission on Economic Cooperation between two countries meeting in the second half of October 2020.

The sides underlined the contributions of the Intergovernmental Commission to strengthen the friendly ties between the two countrie.

The ministers also exchanged views on cooperation within OPEC plus and the current status of the global oil market.

Kazakh Energy Minister Nurlan Nogayev said that the measures taken by OPEC and non-OPEC countries played an important role in raising the price of oil to 46 USD per barrel.

In turn, Azerbaijani Energy Minister Parviz Shahbazov said: "The positive results of the OPEC plus agreement show that we have made the right decision. We are doing our best to achieve the fulfilment of our commitments."

The sides also discussed other collaborative issues arising out of the activities of the Intergovernmental Commission at the meeting.

It should be noted that the 16th meeting of the Joint Intergovernmental Commission on Economic Cooperation between two countries was held in Baku on October 9 2019, in which it was agreed to hold the next meeting of the commission in Nur-Sultan city of Kazakhstan.

Set up in 1999, the Kazakhstan-Azerbaijan Intergovernmental Commission on Economic Cooperation has contributed to the development of bilateral relations in the economic sphere.

he trade turnover between Azerbaijan and Kazakhstan is around $230 million.

The main export products from Kazakhstan to Azerbaijan are mineral resources (oil and gas), chemical raw materials, grain, barley, tobacco products, carbon steel rolling, and electrical equipment. Azerbaijan exports petroleum products extracted from bituminous materials, ethylene polymers, components for machines and mechanisms, prefabricated buildings, etc. to Kazakhstan.

Presently, over 700 companies with Azerbaijani capital are registered in Kazakhstan, and about 60 companies with Kazakh capital are registered in Azerbaijan.

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Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97

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