Trade turnover between Kazakhstan and Armenia increased by 30.8%

Nur-Sultan, May 26, 2021. This was announced by the Minister of Trade and Integration of the Republic of Kazakhstan during the 8th meeting of the Intergovernmental Kazakh-Armenian Commission on Economic Cooperation.

Opening the plenary session, Bakhyt Sultanov said that "Armenia's accession to the Eurasian economic Union has allowed us to increase the volume of mutual trade from 2015 to 2020, 3 times, increasing from $ 5 million to $ 15 million".

"Optimistic note, coronaries did not stop us to increase turnover by 30.8% by the end of 2020(in 2020 - $15 million, in 2019 - $11.5 million). We increased our exports to Armenia by 66% ($7.3 million). In turn, imports to Kazakhstan increased by 8.8% ($7.7 million), " Minister Bakhyt Sultanov said.

In addition, as the head of the Trade department of the Republic of Kazakhstan noted, in the structure of exports from Kazakhstan to Armenia, " we observe a positive trend in the resumption of deliveries of flat rolled products (by $ 2.3 million), an increase in pork exports by 2 times (from $0.6 million to $ 1.2 million), and the establishment of supplies of Kazakh dairy products (buttermilk, yogurt,).

The head of the Ministry of Trade of Kazakhstan also said that today Kazakhstan has more than 200 companies with Armenian capital and 43 Kazakh-Armenian joint ventures in various sectors of the economy.

The gross inflow of direct investment in the period from 2005 to 2019 from Armenia amounted to $ 1.18 million, in 2020 - $6.95 million, while from Kazakhstan to Armenia - $56.27 million.