Kazakhstan and Azerbaijan implement projects that are not only important for both countries, but also significant on a global scale, Kazakh Ambassador Alim Bael said during a roundtable discussion at the third meeting of the Azerbaijan-Kazakhstan Expert Council.
Kazakh Ambassador Alim Bael said:
“Traffic along the Middle Corridor has increased dramatically. In 2022, it doubled, and last year, it grew by 65 percent.”
He emphasised that the transportation of Kazakh oil and uranium through Azerbaijan also began last year. Bael noted:
“We are installing an optical communication connection along the bottom of the Caspian Sea to connect Europe and China. We have also begun exploring the idea of exporting electricity from Kazakhstan to Europe by building a deep-sea cable across the bottom of the Caspian Sea.”Â
The ambassador said the countries have finally set up a joint investment fund. He added:
“At the first stage, the capital will amount to $300 million. Through the fund, we will finance joint projects on our territories and in the territories of third countries. The priority will be transport and logistics, as well as energy.”
