KazMunaiGas (KMG) national oil and gas company and French Vallourec & Mannesmann Tubes company have signed the memorandum of mutual understanding envisaging cooperation in field of establishment of manufacture of high-quality connection elements for the oil and gas pipes.
The press release reads that Vallourec & Mannaesmann Tubes, the world leading maker of seamless steel pipes and high quality connection elements for the oil and gas pipes, intends to create a pipe-threading plant specializing in manufacture of high quality connection elements in Kazakhstan.
The project will be implemented as a part of the program of cooperation between the two countries in field of technologies and attraction of industrial investments in Kazakhstan.—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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