Domestic economic conditions are playing a growing role in shaping the outlook for Azerbaijan, Armenia, Kazakhstan and Uzbekistan, according to global financial services group ING.
Kazakhstan has reiterated that no existing route can replace the Caspian Pipeline Consortium (CPC), which carries more than 80% of the country's crude oil exports through Russia to the Black Sea.
Kazakhstan has reported a sharp fall in oil production, with both output and exports declining in the first quarter of the year, according to government officials. The drop is now affecting the structure of economic growth, even as the country records 3% GDP growth.
Azerbaijani President Ilham Aliyev and Serbian President Aleksandar Vučić reaffirmed their countries’ strategic partnership in Belgrade on Sunday (15 February), signing a series of cooperation agreements.
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