Port of Baku, Kazakhstan Railways ink memorandum of cooperation

By Azernews

By Sabina Mammadli

A memorandum of cooperation was signed between the Port of Baku and Kazakhstan Railways, Azernews reports.

According to this memorandum, a number of agreements were reached on the issues of further increasing multi-modal transportation along transcontinental Asia-Europe routes, developing mutual business cooperation in the field of transport and logistics, and applying innovative solutions in the fast cargo transportation sector.

The document was signed within the framework of Minister of Kazakhstan's Industry and Infrastructural Development Kairbek Uskenbayev, the country's Energy Minister Bolat Akchulakov, and Chairman of the Board of Directors of Kazakhstan Railways National Company Nurlan Sauranbayev's visit to the Central Office of the Baku International Sea Trade Port CJSC (Port of Baku).

During the visit, the guests met with the leadership of the Port of Baku and discussed the existing areas of cooperation between it and the ports of Kazakhstan, especially the strengthening of bilateral relations in the field of logistics and the implementation of possible joint projects.

The cargo turnover between the ports of both countries continues to increase. In the first seven months of this year, the volume of cargo transportation from Kazakhstan through the Port of Baku exceeded one million tons, which is 219.1 percent more than in the same period in 2021.

Meanwhile, according to a tweet by Governor of the Central Bank of Azerbaijan Taleh Kazimov, he met up with Governor of Kazakhstan's Astana International Financial Centre Kairat Kelimbetov.

"We discussed future cooperation opportunities between the Central Bank of Azerbaijan and Astana International Financial Centre," Kazimov said.

It is worth noting that Kazakh President Kassym-Jomart Tokayev arrived in Baku on an official visit on August 24.

The trade turnover between Azerbaijan and Kazakhstan amounted to $332.2 million in 2021.