Trade turnover between Kazakhstan and Armenia increased by 100%

Yerevan - The 9th meeting of the Intergovernmental Kazakh-Armenian Commission (IGC) on economic cooperation was held in Yerevan under the chairmanship of the Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Serik Zhumangarin and the Deputy Prime Minister of the Republic of Armenia Mher Grigoryan, during which issues of further development and deepening of bilateral trade, economic and investment cooperation were discussed. The parties noted a significant increase in mutual trade, which grew by 100% in 2022, and increased by 81.8% in 2 months of 2023 compared to the same period last year.

In order to expand bilateral cooperation, the Armenian side invited interested Kazakh companies to participate in tenders held on the territory of Armenia, as well as in the project to create a logistics center (dry port) in Gyumri; noted the possibility of participation of organizations from Kazakhstan in construction work on the territory of Armenia. The Kazakh side informed the partners about the possibility of exporting products from the Republic of Kazakhstan to the Republic of Armenia, both raw materials and finished products, including goods from the metallurgical, petrochemical, and agricultural industries.

Following the meeting, the parties agreed to promote the activities of companies and business circles on the territory of both countries, establish joint ventures, open representative offices and branches of economic entities in the territories of Kazakhstan and Armenia, support small and medium-sized businesses, promote exports and attract investments. They also discussed issues of expanding cooperation in the IT field, in the field of cultural exchange, tourism, in particular, on increasing the number of direct flights between Armenia and Kazakhstan and the possibility of opening additional flights between Astana and Yerevan. The agreements reached were enshrined in the signed joint protocol of the IGC.

Also, within the framework of the meeting, a Memorandum of Intent for cooperation in the social and labor sphere was signed between the Ministry of Labor and Social Protection of the Population of the Republic of Kazakhstan and the Ministry of Labor and Social Affairs of the Republic of Armenia, as well as a Program for Cooperation in the Field of Culture between the Ministry of Culture and Sports of the Republic of Kazakhstan and the Ministry of Education, Science, Culture and Sports of the Republic of Armenia for 2023-2025.