Kazakhstan’s Trade House was registered in Baku, Kazakh media reported with the reference to General Director of the Trade House Rufat Rzayev.
According to the statement, the purpose in opening the trade house is increasing the volume of bilateral trade, expanding investment, trade and economic relations.
Rzayev noted that Kazakhstan and Azerbaijan have a great potential for economic relations that is not yet fully disclosed. It should be noted that Azerbaijan’s Trade House is already operating in Nur-Sultan.
Moreover, he emphasized that at the initial stage, the Kazakh food, agriculture products and consumer goods will be demonstrated in Azerbaijan market, and later the products of light and textile industry.
Furthermore, it was noted that the trade house will act as a dialogue platform for businesses of two countries, organizing presentation of goods and services, exhibitions and business meetings. In addition, Rzayev stressed readiness to assist Kazakh partners in studying the supply and demand for their goods in Azerbaijani market, checking the ratings of legal entities and companies and in signing the contracts.
Likewise, general director stated that after the opening of direct flight, the arrival of Kazakh suppliers to Baku and an exhibition of goods for Azerbaijani partners and distributors would be organized. In addition, it is planned to create a website and pages in social networks of trade house.
Additionally, he noted that with the expansion of the activities, the trade house would facilitate and support the implementation of bilateral projects in the field of culture, art, tourism and sport between Azerbaijan and Kazakhstan.
It should be noted that the volume of foreign trade operation between two countries amounted to $64.7 million. Export of Azerbaijani products to Kazakhstan amounted to $16.5 million, while import of Kazakh products to Azerbaijan amounted to $48.2 million.
Presently, over 700 companies with Azerbaijani capital are registered in Kazakhstan, and about 60 companies with Kazakh capital are registered in Azerbaijan.
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.
Earlier, Azerbaijan Railway and Kazakhstan Railway discussed the pilot project on creation of the digital corridor in the Trans Caspian International Transport Corridor, paperless execution of documents during cargo transportation on the route.