12th session of the Azerbaijan-Kazakhstan Intergovernmental Commission was held in Baku.
Baku has hosted the 12th session of the Azerbaijan-Kazakhstan Intergovernmental Commission on Economic Cooperation.
Energy Minister Natig Aliyev was a co-chair of the commission on behalf of Azerbaijan, while his counterpart Vladimir Shkolnik on behalf of Kazakhstan.
The event also featured a press conference.
Co-chair of the commission on behalf of Azerbaijan, Minister of Energy Natig Aliyev highlighted current state of relations between the two countries.
Talking about economic relation between the two Caspian littoral states, Minister emphasized on the necessity of exploring new mechanisms to increase trade turnover between them.
He said that the dynamics of trade turnover between the two countries is being declined now.
"However, the potential is very high to increase trade turnover,” he said. “We are working on new mechanisms to enhance the economic cooperation to increase the indices."
Aliyev also noted that Azerbaijan and Kazakhstan agreed to expand cooperation in the non-oil sector during the committee meeting.
"We should intensify the cooperation in the transport sector, increase the volume of cargo transportation,” he said. “The establishment of the special coordinating council for transit cargo and reduction of tariffs in Azerbaijan contribute to this.”
The minister also stressed a great mutual interest in cooperation in agriculture, culture and tourism.
Vladimir Shkolnik, the co-chair on behalf of Kazakhstan said more than 100 documents were signed between the two countries. The Co-chair said majority of these documents covered the field of energy. Vladimir Shkolnik added there were great opportunities for boosting cooperation in the fields of agriculture transport.
Vladimir Shkolnik invited the Azerbaijani entrepreneurs to participate in the Eurasia project, which envisages conducting complex geological exploration of mineral resources of the Caspian basin.
"Azerbaijan enjoys a developed infrastructure, which can be used to increase the supply of Kazakh hydrocarbons to the world markets. We have invited Azerbaijan to take part in the Eurasia project, which envisages the complex exploration of the depths of the Caspian basin for the presence of hydrocarbons. This is an international project, in which major companies will participate. Azerbaijan can participate in it if desires," he noted.
As part of the meeting Azerbaijan and Kazakhstan signed a protocol on amendments to the intergovernmental agreement on cooperation in the field of industrial property protection, signed in 1998.
The protocol was signed by Ramiz Hasanov, the Head of the Azerbaijani State Committee on Standardization, Metrology and Patents, and Beybit Isabayev, the Kazakh Ambassador to Azerbaijan.
A final protocol was signed as part of the meeting.