Azerbaijan and Kazakhstan to create investment fund for development of Caspian Sea ports

Azerbaijan and Kazakhstan have decided to create a joint investment fund that will help to develop the ports of the two countries on the Caspian Sea. This became known from the statement of the head of the Ministry of Transport of Kazakhstan, Marat Karabaev, at the 20th meeting of the Kazakh-Azerbaijani Intergovernmental Commission in Astana. The Azerbaijani delegation at the event was headed by the head of the Ministry of Energy Parviz Shahbazov.

"In the future, important infrastructure projects are planned, which can be financed by the Kazakh-Azerbaijani investment fund being created between Samruk-Kazyna National Welfare Fund JSC and the Azerbaijani investment holding. One of the objectives of this investment fund will be the development of the port infrastructure of our countries",

Karabaev said.

Last year, trade turnover between the two countries grew by 14.2% compared to 2022. Countries interact in various fields, including transport, industry, and energy.