Azerbaijan and Kazakhstan discussed initiatives involving their joint investment fund, AzVision.az reports.

According to Azerbaijan Investment Holding (AIH), AIH CEO Ruslan Alikhanov met with the Ambassador of Kazakhstan to Azerbaijan, Alim Bayel.

The meeting also explored prospects for expanding investment cooperation between the two countries, including the implementation of the Strategic Partnership Agreement between Samruk-Kazyna and AIH.

The AIH emphasized that the Azerbaijan-Kazakhstan fund will broaden opportunities for carrying out key investment projects in various sectors of the economy, both within and beyond the borders of both countries.

In this context, both sides highly appreciated the ongoing joint projects, which have significant geo-economic importance for both countries and the entire region.

Special attention was paid to the joint development of the Trans-Caspian International Transport Route (TITR, or Middle Corridor), the transit of Kazakh energy resources through Azerbaijan's territory, the laying of fibre-optic communication lines (FOCL) along the bottom of the Caspian Sea, and agreements reached regarding the laying of a submarine power cable along the Caspian Sea bed.

Earlier, an article was published on the Azerbaijan-Kazakhstan investment fund.

Meanwhile, the AIH was established by Azerbaijan's Presidential Decree dated August 7, 2020, to manage state-owned companies and enterprises, as well as business entities with a state share, based on common principles. The holding is financed by the state budget.

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