Kazakhstan is ready to expand the range of goods to Armenia by $ 230.9 million

On May 26, 2021, the 8th meeting of the Intergovernmental Kazakh-Armenian Commission on Economic Cooperation was held in the capital of Kazakhstan.

The head of the Ministry of Trade of Kazakhstan, Bakhyt Sultanov, proposed to intensify joint cooperation in various areas of cooperation between Kazakhstan and Armenia.

"We have a good differentiated trade structure. We need to make every effort to expand the product range. Kazakh companies are ready to expand the range of exports in the amount of $230.9 million, for the supply of 50 processed goods in various industries: petrochemicals ($138.8 million), metallurgy ($23.1 million), food industry ($36.4 million), etc.," Bakhyt Sultanov said.

Moreover, as he noted, "Kazakh Export" can assist Armenian partners in long-term trade financing and insurance of trade supplies:

The services of this company are widely used by our partners in the CIS countries.
As a good example of trade in goods with high added value, Sultanov noted the supply of electric batteries by the company "Kainar AKB".

For example, since 2016, the company has been able to increase the supply of batteries from 6.4 thousand to 14 thousand units at the end of 2019 pre-crisis year.

The supply of electric transformers of the Alageum Electric group of companies is stable, the export volume of which shows growth ($ 213.3 thousand). +5% compared to 2019 - $220.8 thousand).

The Minister also presented his proposals for the Armenian business:
- We express our interest in establishing cooperation on participation in projects for the modernization of heating networks, the construction of railways and highways, as well as the renovation of urban transport infrastructure.

In addition, according to the Minister, there is a great potential for increasing cooperation in the trade of agricultural goods. Thus, trade in pork and dairy products accounts for half of the entire export basket of Kazakhstan (about 40% of Kazakhstan's exports).