Baku. TurkicWorld:
Kazakhstan and Azerbaijan are creating a joint investment fund between the Samruk-Kazyna National Welfare Fund JSC and the Azerbaijani Investment Holding, said the Minister of Transport of Kazakhstan Marat Karabayev, TurkicWorld reports.
He made the remark during the 20th meeting of the Kazakh-Azerbaijani Intergovernmental Commission in Astana.
"Future infrastructure projects will be financed by the Kazakh-Azerbaijani Investment Fund, which will be formed by Samruk-Kazyna and the Azerbaijani Investment Holding. One of the aims of this investment fund will be to develop our countries' port infrastructure," the minister said.
The meeting also covered topics such as trade, transportation, energy, digitization, industry, agriculture, education, culture, and tourism.
To note, economic turnover between Kazakhstan and Azerbaijan reached $529.4 million in 2023. The volume of trade turnover increased by 14.2 percent from the same time in 2022 ($463.3 million).
Concurrently, in terms of trade turnover, exports to Azerbaijan totaled $456.3 million over the aforementioned period, which is 21.6 percent higher than from January to December 2022.
Furthermore, from January to December 2023, imports from Azerbaijan fell by 17.3 percent, totaling $73 million. In 2022, imports totaled $88.3 million.
