17:48 - 18.06.2025

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June 18, Fineko/abc.az. Kazakhstan and Azerbaijan are demonstrating steady growth in mutual trade: last year, the total volume of trade reached $533.4 million.

ABC.AZ informs that this is stated in an analytical report on the prospects for deepening economic cooperation between Kazakhstan and Azerbaijan, prepared by the Astana International Financial Center (AIFC) and the Institute of Development and Diplomacy of ADA University.

The article notes that Kazakhstan ranks 3rd among the CIS countries in terms of trade with Azerbaijan.

"In 2024, Kazakhstan's main export positions to Azerbaijan were non-ferrous metals, crude oil, petroleum products and grain, while Azerbaijan supplied pipes, aluminum rods, as well as agricultural and food products to Kazakhstan. In 2023, the countries set an ambitious goal to increase the volume of mutual trade to $1 billion in 2024.

However, it was not possible to achieve this goal - nevertheless, the trade turnover represents a significant increase compared to the previous year. At the same time, there remains significant untapped potential, as current trade volumes cover only a small part of possible economic interaction," the report says.

It is recalled that since this year, total foreign direct investments from Azerbaijan to Kazakhstan amounted to $410 million, and from Kazakhstan to Azerbaijan - $149.7 million.

"To date, more than 1,700 companies with the participation of Azerbaijani capital have been registered in Kazakhstan. In addition, six companies with Azerbaijani participation are registered in the AIFC, mainly in the fields of information technology, transport and logistics," the report says.