BAKU, Azerbaijan, February 12. Productive and
mutually helpful cooperation has been established between the
Nationwide Financial institution of Kazakhstan (NBK) and the Central Financial institution of
Azerbaijan (CBA), a supply within the NBK instructed Pattern.
The supply underlined an everyday alternate of experience on
up to date subjects regarding central financial institution actions inside the
context of bilateral and worldwide contacts.
”To strengthen cooperation in 2023 between the Nationwide Financial institution of
Kazakhstan and the Central Financial institution of Azerbaijan, a memorandum of
understanding was signed,” emphasised the supply.
The supply stated that the memorandum goals to facilitate
collaboration and the alternate of expertise and knowledge within the
fields of financial and credit score coverage, the monetary sector, cost
techniques, monetary applied sciences, and different areas of curiosity to
each nations and organizations.
Azerbaijan is a key commerce and financial associate of Kazakhstan in
the South Caucasus.
The gross influx of international direct funding from Azerbaijan to
Kazakhstan was $1.2 million within the first half of 2023. The bulk
of Azerbaijani investments in Kazakhstan are targeting the
power sector, primarily the oil and fuel trade.
From January to September 2023, Kazakhstan-Azerbaijan commerce
turnover was $417.4 million. This determine is a file compared
to prior years, and it’s 31.9 p.c greater than the indication for
the primary 9 months of 2022 ($316.4 million).