Trade and Economic Mission in Baku, Azerbaijan
On September 9-11, a Trade and economic mission of commodity producers of the Republic of Kazakhstan organised in Baku (Republic of Azerbaijan). Within the framework of the TEM, bilateral B2B meetings were held, which connected Kazakh entrepreneurs and the business of Azerbaijan, as well as a number of other countries of the Turkic world. The 10th meeting of the Ministers of Economy/Trade of the Cooperation Council of the Turkic-speaking States is being held in Azerbaijan these days.
The trade and economic mission was attended by 19 Kazakhstani commodity producers in the field of food, metallurgy and metalworking, IT services, construction and machine-building industries, and more than 70 buyer companies participated from the Azerbaijani side.
Bilateral negotiations in the B2B format with the participation of national companies and business circles of the two countries, meetings with major retail chains and distributors of the Republic of Azerbaijan were organized for Kazakh commodity producers.
They resulted in the signing of a number of export contracts and memoranda of cooperation.
Agreements were reached with Azerbaijani counter-partners for the supply of locomotives, sheet steel, metal barrels, furniture, salt and confectionery. The total amount of contracts concluded in Baku has already amounted to $ 32.9 million. Entrepreneurs continue the negotiation process on the supply of their products to Azerbaijan.
In addition, Azamat Askaruly, General Director of Qaztrade JSC, and Yusif Abdullayev, Head of the Export and Investment Promotion Fund in Azerbaijan (AZPROMO), signed a Memorandum on cooperation in the development of trade policy. A similar Memorandum was also signed by Qaztrade JSC with the National Confederation of the Organization of Entrepreneurs of the Republic of Azerbaijan (ASK).
The organizer of Trade and economic missions of the Republic of Kazakhstan in other countries is JSC “Qaztrade” of the Ministry of Trade and Integration of the Republic of Kazakhstan.
Azamat Askaruly, General Director of QazTrade JSC, noted that B2B meetings allow strengthening trade and economic cooperation between Kazakhstan and other countries.
– Kazakh entrepreneurs are interested in the Azerbaijani market. But the potential of our mutual trade is not even half used. And this is despite the fact that there is a demand for Kazakh goods on the Azerbaijani market and Azerbaijani goods in the Republic of Kazakhstan. We can also explore the markets of third countries together. Moreover, important international transport corridors pass through our territories, ” Azamat Askaruly said.
For reference:
The trade turnover between Kazakhstan and Azerbaijan in 2020 amounted to 109.7 million US dollars. (exports – 84.4 million US$, imports – US $ 25.3 million). The trade turnover between Kazakhstan and Azerbaijan in January-July 2021 amounted to 78.7 million US dollars, which is 32.5% higher than in the same period of the previous year (59.4 million US dollars).The main export goods from Kazakhstan to Azerbaijan are: petroleum products, flat rolled products made of non-alloy steel, clad, electric railway locomotives, wheat, hygiene products, electric batteries, bread and flour confectionery products, rice, margarine, etc..
