Kazakhstan’s Sunflower Oil Venture: Strengthening Agricultural Ties with Azerbaijan

Boosting Export Prospects

Kazakhstan is eyeing a significant expansion in its export portfolio to Azerbaijan, targeting key sectors such as sunflower oil, confectionery, chocolate, butter, ice cream, meat, and meat products. This move, projected to add over $75 million USD to Kazakhstan’s export revenues, underscores the growing trade relations between the two nations. Aidarbek Saparov, the head of Kazakhstan’s Ministry of Agriculture, revealed these plans during a meeting with his Azerbaijani counterpart, Majnun Gadir oglu Mamedov.

Unlocking Agricultural Potential

Highlighting Kazakhstan’s agricultural prowess, Saparov extended invitations to Azerbaijani partners to explore investment opportunities in various segments of the agricultural sector. Emphasizing the potential for joint ventures, Saparov particularly spotlighted projects focused on agriproduct processing, including grain and oilseed processing.

Expanding Bilateral Trade

Despite a downturn in bilateral agricultural trade in 2023, with volumes nearly halving to around $75 million USD, both nations are optimistic about revitalizing trade ties. Notably, Kazakhstan has diversified its exports to Azerbaijan, now including items like cattle, meat, and poultry by-products. Additionally, the exchange of lists of interested agricultural producers between the two countries signals a promising trajectory for future collaboration.

Kazakhstan’s Agricultural Evolution

With a keen eye on sustainable growth, Kazakhstan aims to leverage its agricultural sector’s potential to foster economic development and bolster international trade relationships. As both nations gear up for enhanced cooperation, the prospects for joint agricultural ventures look promising, heralding a new chapter in their bilateral trade narrative.