Armenia and Kazakhstan aim to expand economic cooperation

Armenia and Kazakhstan aim to expand cooperation in such areas as transportation, energy, food and others, according to statements made by the officials of both countries at the 9th session of Armenian-Kazakh commission for economic cooperation, held in Yerevan on April 28 under the co-chairmanship of Deputy Prime Minister of Armenia Mher Grigoryan and his Kazakh counterpart Deputy Prime Minister Serik Zhumangarin.

Grigoryan praised the importance of the commission’s work, which is contributing to the creation of a more favorable and predictable business environment aimed at increasing trade through more diversified ways of building export-import chains.

For his part, Zhumangarin noted that Kazakhstan sees opportunities for cooperation with Armenia in almost all spheres of the economy, including construction of railways and roads, modernization of heating networks, renovation of urban transport infrastructure and the food industry.

“We are ready to offer Armenian consumers 100 processed products worth $266.9 million,” he said, recalling that an Armenian-Kazakh online business forum was recently held, which was attended by about 50 major entrepreneurs, representatives of national holdings and business circles from both countries.

According to official statistics, the trade turnover between Armenia and Kazakhstan in 2022 doubled to $41.6 million. Armenian export increased from $10.3 million to $26.9 million, while imports from $10.5 million to $14.7 million.

Supplies of agricultural and food products and electric batteries produced in Kazakhstan to Armenia are growing, while Armenia sells in Kazakhstan machinery, equipment, lacquers, paints and medicines.

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