A 7fold increase was shown and the amount of 28.6 million US dollars was reached by foreign trade turnover between Aktobe region and Azerbaijan in 2022.

According to Kazinform correspondent, the region’s governor Yeraly Tugzhanov and Elchin Mammadov, acting head of the Consulate General of Azerbaijan in Aktau, announced it at a meeting.
Yeraly Tugzhanov said that there are close relations between Aktobe region and many foreign countries today. He noted that it was especially important for Kazakhstan to strengthen the ties with Azerbaijan. The presidents of the two countries Ilham Aliyev and Kassym-Jomart Tokayev discussed the issues of transport and logistics infrastructure development and huge prospects in investments sector at the meeting.
Development of various ties including business was the goal of the discussion. Elchin Mammadov in his turn expressed the hope that the meeting will contribute to the strengthening of the bilateral relations.
A presentation of the region’s economic potential, highlighting that Aktobe region had been the country’s large transport and logistics hub, was made by Yeraly Tugzhanov.
According to him, more than 6 billion US dollars has been attracted by the region in the past 5 years. Foreign direct investments account for 25 percent of this sum. The region, notable for its location and a great number of mineral reserves, is the place where 1,100 foreign companies including transnational corporations are operating. Tugzhanov added that they have created favorable conditions for the implementation of projects in agriculture, machine-building, construction industry and tourism.
Aktobe region is the home for approximately 1,300 Azerbaijanis today.

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