BAKU, Azerbaijan, February 11. Productive and
mutually useful cooperation has been established between the
National Bank of Kazakhstan (NBK) and the Central Bank of
Azerbaijan (CBA), a supply within the NBK instructed Trend.
The supply underlined an everyday alternate of experience on
up to date subjects regarding central financial institution actions throughout the
context of bilateral and worldwide contacts.
“To strengthen cooperation in 2023 between the National Bank of
Kazakhstan and the Central Bank of Azerbaijan, a memorandum of
understanding was signed,” emphasised the supply.
The supply mentioned that the memorandum goals to facilitate
collaboration and the alternate of expertise and data within the
fields of financial and credit score coverage, the monetary sector, fee
methods, monetary applied sciences, and different areas of curiosity to
each international locations and organizations.
Azerbaijan is a key commerce and financial accomplice of Kazakhstan in
the South Caucasus.
The gross influx of overseas direct funding from Azerbaijan to
Kazakhstan was $1.2 million within the first half of 2023. The majority
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 report when put next
to prior years, and it’s 31.9 p.c greater than the indication for
the primary 9 months of 2022 ($316.4 million).