Wednesday, 14 April 2021 11:09 GMT

Kazakhstan ratifies agreement with Azerbaijan on int'l road transportation

(MENAFN - AzerNews) By Sara Israfilbayova

The Parliament of Kazakhstan approved the ratification of the Agreement between the Governments of Kazakhstan and Azerbaijan on international road transportation at the plenary meeting on December 20.

Speaking at the event, Kazakh Minister for Investments and Development, Zhenis Kasymbek, said that thanks to the advantageous geographical position of Kazakhstan, the agreement with Azerbaijan contributes to the development of the country's transit potential and attraction of cargo flows with a view to create a large logistics hub in Central Asia.

'Today, road agreements have been concluded with 41 countries and this work is underway. In 2016, the volume of cargo transportation by road between Kazakhstan and Azerbaijan increased by 16 percent and amounted to 6,200 tons, he said.

The minister noted that the implementation of this agreement contributes to the further development of road transport between the two countries.

The purpose of the agreement, which was signed on April 3, 2017, is the development of international road transport between the two states, as well as the formation of a mutually beneficial transportation market.

Also, it is envisaged to establish an authorization system for bilateral, transit and transportation to/from a third country. The signed document will give a positive impetus to the further development of cooperation and will contribute to an increase in the volume of freight transported by road transport between the two countries.

Diplomatic relations between the two countries were established in August, 1992. Both countries are full members of theCommonwealth of Independent States (CIS), Turkic Council,Joint Administration of Turkic Arts and Culture,Organization of Islamic Cooperationand theOrganization for Security and Co-operation in Europe (OSCE).

The two countries have already signed over 100 agreements, which constitute legal basis for negotiations between the countries. More than 20 of those are in the field of economy.

Both Kazakhstan and Azerbaijan attach great importance to the development of bilateral trade and economic ties. There is a successfully operating Intergovernmental Commission, and business forums are held regularly.

For Azerbaijanand Kazakhstanthe most important points of cooperation appear to be the contacts on energy issues, oil transportation, agriculture, and the use of the Caspian Sea as an important international traffic artery.

Now the two countries are working on promotion of a joint transport project - the Trans-Caspian International Transport Route (TITR), which involves cargo transportation from China via Kazakhstan, Azerbaijan, Georgia and further via Turkey and Ukraine to Europe.

The trade turnover between the countries increased by 3.7 percent and amounted to $102.5 million over the three quarters of this year.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.