Kazakhstan presents investment projects to Azerbaijan worth almost $220 million

July 8. Trend. Baku

By Emin Aliyev

Kazakhstan presents investment projects to Azerbaijan worth almost $220 millionAzerbaijani entrepreneurs were presented investment projects in Kazakhstan, the website of the Azerbaijani Export and Investment Promotion Foundation (AZPROMO) said.

Some twenty-three projects the total value of which is about $220 million are planned to be implemented in North-Kazakhstan region. These projects include the construction of the facility on reception and processing of waste, production of wood-based panels, agricultural equipment, creation of livestock complex and creation of other facilities.

“The entrepreneurs interested in participating in these projects can get the necessary information at the Kazakh embassy in Azerbaijan,” the report said.

In January-May, 2014, trade turnover between the two countries amounted to 132.94 million (some 118.36 million of which accounted for import of Kazakh products and only 14.58 million – exports from Azerbaijan), decreasing by 10.16 percent in a year, according to the State Customs Committee.

For comparison, the figure was $147.97 million in January-May 2013; Azerbaijan exported products worth $23 million, while imports from Kazakhstan amounted to $124.97 million.

Today some 52 Kazakh companies representing different sectors of the economy are successfully operating in Azerbaijan. There are more than 700 legal entities with the Azerbaijani capital in Kazakhstan. About 50 enterprises with the Azerbaijani capital were registered only in the western region of Kazakhstan.

The volume of Azerbaijani investments allocated in Kazakhstan’s economy since 2005 exceeds $130 million. About $40 million have been invested in Kazakhstan only last year.