Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC, met with senior representatives of AZCON, Azerbaijan’s state-owned holding company.

The parties discussed opportunities to expand investment and business cooperation between Kazakhstan and Azerbaijan, as well as the implementation of joint projects in the transport, logistics and maritime sectors.

The meeting also saw the signing of two documents aimed at strengthening transport and logistics cooperation between Kazakhstan and Azerbaijan.

The first document provides for cooperation between Samruk-Kazyna JSC and AZCON Holding on the establishment of a new trans-Caspian ferry system, the Caspian Bridge. The agreement outlines the key principles and areas of cooperation between the parties in preparing and implementing the project.

The second document is a Term Sheet signed by Kazakhstan Temir Zholy JSC and Azerbaijan Railways CJSC, setting out the key terms for establishing an intermodal freight terminal and a joint venture. The project aims to expand container and other freight transportation, with a particular focus on the Trans-Caspian International Transport Route (TITR).