Azerbaijan- Kazakhstan partnership assessed

Aktobe province has great investment opportunities, and participation of more than 80 representatives of the Azerbaijani business at the business forum held in Baku on Thursday confirms their great interest in Kazakhstan's economy, president of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Adil Mammadov said on Thursday.

"At present we are discussing possibility of establishing joint ventures in Kazakhstan and Azerbaijan, as well as the export of Azerbaijani goods in Aktobe," Mr Mammadov said.

He said in Azerbaijan export potential, especially in the food industry increases each year. And the Kazakh market has traditionally been a profitable market for Azerbaijan, and market of Aktobe province is one of them.

As part of the business forum investment projects in the engineering, construction, agricultural areas, in the food industry and other sectors of the economy of Aktobe province were presented

The province's turnover with Azerbaijan exceeds $40 million, which means that Azerbaijan ranks third among province's largest foreign trade partners.

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The rapid economic development of Azerbaijan allows it to provide for progressive development of trade and economic relations with various countries and cooperation with Kazakhstan in an important way, Azerbaijani Deputy Economic Development Minister Niyazi Seferov said at the Azerbaijani-Kazakh business forum in Baku on Thursday.

"Azerbaijan and Kazakhstan are important trade and economic partners and development of a legal base creates a good mechanism for the development of relations," the deputy minister said. Over 100 businessmen are attending the forum.

He said the cooperation with Kazakhstan is considered not only at the level of the whole country, but also in separate provinces which have great potential. Azerbaijan is currently linked through trade with 145 countries.

Akim (head) of the Aktobe province Arhimed Muhambetov said at the business forum that the province is one of the fastest growing in Kazakhstan. In particular, over the past five years, the rate of industrial production increased by 2.5 times to reach $8.3 billion.

"Aktobe province is noted for its developed agricultural sector, particularly in the field of animal husbandry. The construction sector has also achieved high development rates in recent years," Mr Muhambetov said.


/Trend/