The creation of a trans-Caspian route was the main theme of the visit of the Vice Prime Minister of Kazakhstan Bakytzhan Sagintayev to Tbilisi.
After negotiations with representatives of the Georgian government, Sagintayev told reporters that the railway departments of Georgia, Azerbaijan and Kazakhstan agreed to create a consortium for the transportation of goods from China to the Batumi port, and then - to Turkey and Europe.
"This is a very convenient transit route for everyone, and we are seriously interested in creating such a consortium," he said.
The Georgian Economy Minister Dmitry Kumsishvili assured the Kazakh Deputy Prime Minister that the investment of Kazakhstan in the port of Batumi in the amount of 142 million dollars will be protected.
According to Kumsishvili, the Kazakh side ensured that it would not leave the Batumi port and oil terminal - moreover, they plan new investments in these facilities.
We recall that on the previous day Sagintayev held talks on the same subject in Baku. It was the organization of a railway ferry from the port of Aktau to Baku for a large amount of goods from China across the Caspian Sea to Azerbaijan and then to the Black Sea port of Batumi and further to Europe and Turkey. -02D-
Economics
-
The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR President Rovshan Najaf and John Wallace, CEO of DeGolyer and MacNaughton, met in Baku to discuss initiatives including geothermal energy projects and carbon capture, utilization, and storage (CCUS) technologies, SOCAR announced on Tuesday.
-
On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. This initiative aims to stimulate trade and strengthen economic ties among the member states of the Organization of Turkic States (OTS).
-
According to the State Customs Committee, food import expenditures in Azerbaijan rose by 10.2% in the first ten months of 2024 compared to the same period last year, reaching a record $1.97 billion. This increase, driven by growing demand for vegetables, fruits, tea, rice, and animal products, highlights the country's rising dependence on imported food despite government efforts to boost domestic agricultural production.
-
Azerbaijan's potato sector, a cornerstone of the nation's food supply and its second most significant agricultural product, is in sharp decline. Production dropped by 7.6% year-on-year from January to October 2024, reflecting a long-term downward trend, according to the State Statistics Committee.
Leave a review