Kazakhstan, Azerbaijan Discuss Increasing Cargo Transportation Along Middle Corridor
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, March 5. Kazakhstan and
Azerbaijan discussed increasing cargo transportation along the
Trans-Caspian International transport Route (TITR, or Middle
Corridor), Trend reports.
According to the Azerbaijan's energy Ministry, the discussion
took place during the 20th meeting of the Joint Intergovernmental
Commission (JIC) in Astana on March 5. The Kazakh delegation was
headed by the Minister of Transport Marat Karabayev, and the
Azerbaijani delegation - by the Minister of Energy Parviz
Shahbazov.
As the Ministry noted, during the meeting, issues of expanding
cooperation in the oil and gas sector, the possibility of
participating in joint projects, increasing the volume of transit
of Kazakh oil along various routes, and increasing cargo
transportation along the Middle Corridor were discussed.
The parties agreed to take appropriate steps towards completing
the construction of the Caspian underwater optical line connecting
Azerbaijan and Kazakhstan within the framework of the Digital Silk
Road project, preparing in the near future a technical
specification document to begin a feasibility study of the project
for the supply of electricity along the route Central
Asia-Europe.
The Azerbaijani side, noting the serious efforts of both
countries in the transition to green energy, expressed its
intention to cooperate with Kazakh companies in the field of
renewable energy and energy efficiency.
To note, economic turnover between Kazakhstan and Azerbaijan
reached $529.4 million in 2023, according to Kazakh statistics. 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.
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