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Astana, Kazakhstan • 12 April, 2023 | 14:26

Kazakhstan and Azerbaijan Aim to Reach $1B in Bilateral Trade

The two countries signed a number of MoUs in the fields of trade, science, and information

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President Kassym-Jomart Tokayev discussed with Azerbaijani president Ilham Aliyev key issues of the bilateral partnership and cooperation in Astana, QazMonitor reports citing Akorda.

On April 10, the president of Azerbaijan paid an official visit to Kazakhstan following an invitation by President Tokayev to further outline bilateral commitments to strengthen interstate relations.

The Head of State noted that Kazakhstan and Azerbaijan have established a solid legal framework and have achieved significant progress in bilateral trade, which has grown by 40% and reached $500 million. He believes that with the full disclosure of the bilateral economic potential, this figure can be increased to $1 billion.

Following the negotiations, both parties have signed a joint statement and protocol on the establishment of the Supreme Interstate Council, as well as a number of agreements between the state bodies of the two countries.

The following documents were signed:

  • Memorandum of Understanding and Сooperation between the Ministry of Information and Social Development of Kazakhstan and the Ministry of Youth and Sports of Azerbaijan

  • Memorandum of Understanding between the non-profit Otandastar Fund (Kazakhstan) and the State Committee on Work with Diaspora (Azerbaijan)

  • Memorandum of Understanding on scientific cooperation between the National Academy of Science of Kazakhstan and the Azerbaijan National Academy of Science

  • Memorandum of Understanding and Cooperation between the TV and Radio Complex of the President of Kazakhstan and the Azerbaijan State News Agency (AZERTAC)

  • Memorandum of Understanding between the Chamber of International Commerce of Kazakhstan and the Small Business Development Agency of Azerbaijan

  • Memorandum of Scientific and Cultural Cooperation between the Institute of Applied Ethnopolitical Research in Astana and the Baku International Multiculturalism Center

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