Armenia and Kazakhstan significantly boosted their trade and economic relations. This was highlighted by the Armenian-Kazakh Business Forum held in Yerevan on April 9.
The event was attended by Armenia's Minister of Economy Gevorg Papoyan Kazakhstan's Minister of Trade and Integration Arman Shakkaliev, as well as the Ambassador of Kazakhstan to Armenia, Bolat Imanbayev, and the Ambassador of Armenia to Kazakhstan, Armen Gevondyan, as reported by the Armenian Ministry of Economy press service.
"Growth in bilateral cooperation potential between Armenia and Kazakhstan is evident from statistical data, according to which the trade turnover between our two countries reached $100.4 million in 2023, increasing by 2.4 times compared to the same period in 2022. I am confident that boosting bilateral cooperation significantly contributes to further increasing this indicator," noted Gevorg Papoyan.
During the forum, discussions were held on the development of trade and economic relations, tourism, and logistics between Armenia and Kazakhstan.
Business-to-business meetings took place between entrepreneurs from the two countries, during which several agreements and memorandums were signed.
Earlier, BMG reported that in 2023, the foreign trade turnover between Armenia and Kazakhstan increased by 2.4 times, reaching $100.5 million. During this period, exports grew by 3.8 times, reaching $71.3 million, while imports increased by 23.6%, totaling $29.2 million.
Recently, Kazakhstan's Minister of Foreign Affairs Murat Nurtleu announced plans to establish an Armenian-Kazakhstani Business Council as part of further development of trade and economic programs between the two countries.
As he noted, Kazakhstan could increase its exports to Armenia to $350 million and actively support economic cooperation between the two countries.
It was also announced that Kazakhstan's President, Kassym-Jomart Tokayev, plans to visit Armenia in the near future.
