At the last meeting of the Kazakh-Azerbaijani Intergovernmental Commission, the Minister of Transport of the Republic of Kazakhstan, Marat Karabaev, presented a plan for investment projects. These large-scale infrastructure initiatives will be financed by the newly formed Kazakh-Azerbaijani investment fund, created jointly by Samruk-Kazyna National Welfare Fund JSC and the Azerbaijani investment holding. The plan includes the organization of joint production, the construction of a grain terminal in the port of Alyat and cooperation in the shipbuilding sector.
The minister emphasized the successful development of cooperation between the two countries in the transport industry. Over the past year, the volume of cargo transportation between them increased 1.5 times, reaching 4.3 million tons. A particularly significant increase – by 65% – was registered along the Trans-Caspian International Transport Route, where the volume of traffic reached 2.8 million tons. This year it is planned to additionally increase cargo traffic by 43%.
Against the backdrop of these achievements, Marat Karabaev emphasized successful meetings of experts and high investments between countries. Azerbaijan has invested $211.4 million in the economy of Kazakhstan, while Kazakhstan has invested $114 million in the economy of Azerbaijan.