2024-02-11 06:07:41
Fruitful and mutually beneficial cooperation has been built between the National Bank of Kazakhstan (NBK) and the Central Bank of Azerbaijan (CBA).
Day.Az was told about this by the National Bank of Kazakhstan.
As the NBK noted, expert exchanges of views on topical issues of the activities of central banks are carried out on a regular basis within the framework of bilateral and multilateral interaction.
“Thus, in order to strengthen cooperation in 2023, a memorandum of understanding was concluded between the National Bank of Kazakhstan and the Central Bank of the Republic of Azerbaijan,” the NBK emphasized.
The National Bank of Kazakhstan noted that the memorandum is aimed at cooperation, exchange of experience and information in the field of monetary policy, financial sector, payment systems, financial technologies and other areas of interest to the two countries and organizations.
It should be noted that Azerbaijan is a key trade and economic partner of Kazakhstan in the South Caucasus.
The volume of gross inflow of foreign direct investment from Azerbaijan to Kazakhstan for the 1st half of 2023 amounted to $1.2 million. The bulk of Azerbaijani investment in Kazakhstan is concentrated in the energy sector, in particular in the oil and gas industry.
The volume of trade turnover between Kazakhstan and Azerbaijan reached $417.4 million in January-September 2023. This figure is a record compared to the same period of previous years, and also exceeds the figure for 9 months of 2022 by 31.9 percent ($316.4 million).
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