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Azerbaijan-Kazakhstan intergovernmental commission meets in Baku

01 October 2009 11:51 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. The Azerbaijan-Kazakhstan Intergovernmental Commission on Economic Cooperation has met on Thursday in Baku for the fourth meeting.

Azerbaijanâ€™s Minister of Industry and Energy Natig Aliyev, who co-chairs the commission, hailed the importance of meeting on the eve of Kazakhstan President Nursultan Nazarbayevâ€™s official visit to Azerbaijan.

He added that two countries mostly cooperate in the energy sector but the extent of cooperation may be extended to other areas.

"According to statistics, trade between our countries amounted to $490 million in 2008, and there is no significant increase in this year. However, our countries have the potential to boost trade turnover,â€ he added.

Speaking about Azerbaijanâ€™s economic performance in the first five months of 2009, he said that GDP growth rate was 5% during this period.

Kazakhstanâ€™s Minister of Energy and Natural Resources Sauat Mynbayev who co-chairs the commission expressed hope for an early solution to issues discussed at the meeting issues.

The protocol of the meeting reflects issues of economic cooperation between the two countries in energy, agriculture, transport and communications.

Then, the parties signed a joint declaration and minutes of the meeting.