About 40 contracts on use of bowels of earth will be terminated in Kazakhstan till the end of 2013, Aset Isekeshev, Kazakhstan Minister of Industry and New Technologies, said at a briefing in Astana.
“Till the end of the year we will do work on the idle fields and I think we will terminate at least 40 contracts on the nonworking fields,” Isekeshev said.
He assured that the work will be continued till “all the fields will work as the government wants it to.”
Commenting on the revision of the conditions of the contracts for bowels of earth, Minister said that many projects and programs have been concluded “7-10 years ago and we believe that the investors’ commitments were understated there.”
“We revise every our project and work on the technical project, which is economically substantiated, and specify legal obligations in the contracts. The investors’ commitments related to use of bowels of earth in Kazakhstan worth $27 billion will be secured in the contracts till the end of the year,” Minister concluded. –0--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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