On June 23, Kazakhstan and Azerbaijan agreed to deepen economic ties through joint pharmaceutical and tourism projects, while Azerbaijan and Tajikistan advanced $700 million in trade, industry, and energy cooperation initiatives.

Alim Bayel, the Ambassador of Kazakhstan, proposed joint projects in the pharmaceutical and tourism sectors during a meeting with Mikayil Jabbarov, the Minister of Economy of Azerbaijan.

During the meeting, the sides discussed the current status and future prospects of bilateral cooperation across trade, economic relations, investment, transport and logistics, energy, and construction. It was noted that trade turnover between Azerbaijan and Kazakhstan increased by 20% from January to April of this year. The minister stated that in 2025, Kazakhstan would become Azerbaijan’s main wheat supplier, providing 88% of the country’s grain imports.

Jabbarov emphasized that strengthening economic cooperation with Kazakhstan held strategic significance for Azerbaijan. He praised large-scale joint initiatives such as the Trans-Caspian International Transport Route (TITR), the laying of a fiber-optic communication line (FOCL) across the Caspian Sea, the transit of Kazakh energy through Azerbaijan, and the planned installation of a deep-sea electric cable on the seabed of the Caspian. Additionally, Bayel proposed launching joint production of infusion solutions in Kazakhstan and suggested that Azerbaijan invest in building a health resort complex on the shores of Lake Alakol.

The parties also explored the prospects of expanding the operations of construction firms in housing and social infrastructure projects. The Embassy of Kazakhstan highlighted that several Kazakh companies had started constructing medical and residential facilities in Azerbaijan, while cooperation in this field within Kazakhstan was also under consideration.

Meanwhile, according to the Ministry of Economic Development and Trade of Tajikistan, Azerbaijan and Tajikistan are conducting a feasibility study on projects worth $700 million, formalized during the Azerbaijan-Tajik business forum in Baku in May 2024. These include an agreement between the Azerbaijan Industrial Corporation and Tajik companies to increase mutual trade, establish textile enterprises, enhance refined oil production, and develop land for cotton cultivation and seed processing. A memorandum of understanding was also signed between the Tajik Aluminum Company (TALCO) and Azeraluminium OJSC.

Further accords involve Tajagropromexport and the Azerbaijan Industrial Corporation and initiatives in the textile and cotton sectors. “We are actively cooperating with Azerbaijan in the implementation of these projects and look forward to their accelerated implementation,” the ministry emphasized. Plans also include setting up joint alumina and anode block production ventures. The ministry noted that alumina supply would mark a new area of cooperation, adding, “In addition, we consider it a priority to establish the export of anode blocks from Tajikistan to Azerbaijan. The parties have the necessary potential and expect to sign new agreements in the near future.”

During the sixth session of the Joint Intergovernmental Commission on Trade and Economic Cooperation in 2023, both sides agreed to explore Azerbaijan’s possible participation in financing the modernization of the TALCO plant. Discussions also covered the supply of aluminum, cryolite, and aluminum fluoride from Tajikistan to Azerbaijan, as well as alumina exports from Azerbaijan to Tajikistan.