The increase in bilateral trade turnover is in the focus of attention
The 9th meeting of the Kazakh-Armenian Intergovernmental Commission on Economic Cooperation, chaired by Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Serik Zhumangarin and Deputy Prime Minister of the Republic of Armenia Mher Grigoryan, opened in Yerevan, the capital of the Republic of Armenia.
The establishment of the intergovernmental commission dates back to 1999, during its existence there has been a noticeable strengthening and expansion of trade, economic, humanitarian and cultural ties between the two countries.
Thus, in 2022, the trade turnover between the Republic of Kazakhstan and the Republic of Armenia was realized in the amount of 41.6 million US dollars, which is 99.8% higher than in the same period of the previous year (20.8 million US dollars). At the same time, exports increased from 10.3 to 26.9 million dollars, imports – from 10.5 to 14.7 million dollars, with an increase of 40.2%.
Last year there was an increase in exports to Armenia from Kazakhstan of such goods as agricultural and food products, electric batteries, flat rolled non-alloy steel clad and others. The basis of imports to Kazakhstan from Armenia are machinery and equipment, varnishes and paints, medicines and other goods.
The trade turnover between Kazakhstan and Armenia in January-February 2023 increased by 81.8% and amounted to 4.6 million US dollars. Exports from Kazakhstan to Armenia increased 2.7 times and amounted to 2 million US dollars; imports to Kazakhstan from Armenia increased by 46.2%, to 2.6 million US dollars.
During the bilateral meeting of the IPC Co-Chairs, it was stressed that, based on the positive dynamics over the past year and 2 months of 2023, the potential of cooperation between Kazakhstan and Armenia has favorable prospects for development.
«Windows of opportunity» are open in such industries as the metallurgical industry, agriculture, pharmaceuticals, information and communication sphere, transport, energy, tourism and other industries.
In order to expand bilateral cooperation during the plenary session of the interprovincial commission, the Armenian side, in particular, announced an invitation for interested Kazakhstani companies to participate in tenders held on the territory of the Republic of Armenia, as well as in the project of creating a logistics center (dry port) in Gyumri; noted the possibility of participation of organizations from Kazakhstan in construction works on the territory of Armenia.
In turn, the Kazakh side informed the partners about the possibility of exporting both raw materials and finished products from Kazakhstan to Armenia, including products of the metallurgical, petrochemical industry, agricultural production.
Following the meeting, the parties agreed to promote the activities of enterprises and business circles in both countries, the creation of joint ventures, the opening of representative offices and branches of economic entities in the territories of the Republic of Kazakhstan and the Republic of Armenia, support for small and medium-sized businesses, export promotion and investment attraction.
The Intergovernmental Commission decided to ensure the exchange of information on export-oriented products on an ongoing basis twice a year, to regularly inform about the expansion of transport and logistics capabilities of both countries for the implementation of multimodal transportation in order to increase the volume of foreign trade.
They also discussed issues of expanding cooperation in the IT sphere, in the field of cultural exchange, tourism, in particular, increasing the number of direct flights between Armenia and Kazakhstan and the possibility of establishing direct flights between Yerevan and Astana.
In order to develop cooperation in the field of financial technologies and e-commerce, the issues of opening a branch of the «Astana» International Financial Center in Yerevan and the development of cooperation between «Kazpost» JSC and «Haypost» CJSC were considered.
These and other agreements were enshrined in the signed joint protocol.
Also during the meeting, the parties signed a memorandum of intent on cooperation in the social and labor sphere 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 and a Program of 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 Russian Academy of Sciences 2023-2025.
On April 24 this year, a bilateral business forum was held in the «online» format, where about 50 large Kazakh and Armenian entrepreneurs, national holdings, and business circles took part. Kazakhstani producers of goods and services in such areas as the construction of railways and highways, the modernization of heating networks, the renewal of urban transport infrastructure and the food industry are interested in establishing business contacts with the Armenian side.