At present, Armenia is on the path of diversifying its economy while maintaining ties with traditional partners like Kazakhstan, stated Armenian Minister of Economy Gevorg Papoyan.
"One of the potential areas of bilateral cooperation between Kazakhstan and Armenia is the development of transport and logistics projects. Issues related to exploring export routes to third countries were discussed during the Kazakhstan-Armenia business forum in Yerevan," Gevorg Papoyan said in an interview with Kazinform.
According to him, Astana pays particular attention to improving its own infrastructure and throughput capacity in the context of the Trans-Caspian International Transport Route.
"In turn, Yerevan has developed the "Crossroads of Peace" project, which, according to the minister, will provide an opportunity to deepen economic ties with many countries, including Kazakhstan," Papoyan stated.
The main idea of this concept ("Crossroads of Peace"), as noted by the minister, is the development of regional communications through the construction of new, as well as the repair and operation of old roads, railways, pipelines, and power lines.
"Undoubtedly, the "Crossroads of Peace" concept brings with it numerous new opportunities related to the movement of goods, commodities, and people. The project to unlock the transportation infrastructure in the South Caucasus will provide an opportunity to build a prosperous future for all parties in the region and deepen economic ties and cooperation with many countries, including Kazakhstan," emphasized Gevorg Papoyan.
In 2023, trade and economic contacts between Armenia and Kazakhstan, which are part of the Eurasian Economic Union, sharply intensified.
The trade turnover between the two countries last year amounted to $100.4 million, which is 2.4 times higher than in 2022. Moreover, exports from Armenia to Kazakhstan in 2023 reached $71.3 million, an increase of 3.8 times compared to the same period in 2022.
