OREANDA-NEWS. December 29, 2007. Azerbaijan Export & Investment Promotion Foundation (AZPROMO) representation in Kazakhstan continues rapid development of its activity in spite of it started functioning 6 months ago.

Emil Majidov, AZPROMO President, informed that the representation in Kazakhstan has already attracted several Azeri companies into this market.

“4 or 5 Azeri constructional companies exist on western Kazakhstan market. 2 or 3 projects are being finished that was aimed due to our representative” E.Majidov said,

Besides construction sector, AZPROMO representation in Kazakhstan develops food market.

“There are advances in that sector, several deals and contracts have been concluded. But our most ambitious plan is to attract service companies and companies for equipment production. There are no contracts but there is a memorandum with Kazakh partner to be transferred into contract in early 2008,” E.Majidov said.

AZPROMO is going to transfer memorandum into contract within the memorandum of joint activity in oil machine building and creation of joint venture (JV) for oil and gas equipment. Works for 3 JVs are carried out.

Under decision taken by our countries’ leaders in the course of president Ilham Aliyev’s official trip to Astana the sides are going to deepen oil engineering partnership, in particular in a way of creation of joint ventures to produce petroleum field equipment facilities. Due to the signed Memorandum, the Azerbaijani and Kazakh companies will determine jointly further projects and on the basis of market research will organize joint ventures in the area of building services, diving works and manufacture of jack-pumps.