Kazakhstan is prepared to significantly expand its exports to Armenia, covering 70 different product categories, according to Bolat Imanbayev, the Ambassador of Kazakhstan to Armenia. He shared this during a conversation with BMG at an event marking the 25th anniversary of the Treaty of Friendship and Cooperation between the Republic of Kazakhstan and the Republic of Armenia, a cornerstone document for bilateral relations.
"We are ready to increase the supply of products from the metallurgical, petrochemical, food, construction, and agricultural industries," stated the diplomat.
According to Ambassador Imanbayev, trade and economic cooperation between the two countries is developing dynamically. A key factor in this growth is the regular meetings of the Kazakh-Armenian Intergovernmental Commission on Economic Cooperation, co-chaired by Kazakhstan’s Deputy Prime Minister Serik Zhumangarin and Armenia’s Deputy Prime Minister Mher Grigoryan.
Over the past five years, mutual trade has tripled, noted Imanbayev. However, he believes this still does not reflect the full potential of bilateral cooperation. One of the main constraints is logistics, with the issue of optimal transport routes between the countries remaining a topic of bilateral negotiations.
Business relations and tourism between the two nations have been bolstered by direct flights operated by Kazakhstan's SCAT Airlines on the Aktau-Yerevan-Aktau route. Currently, over 400 companies with Armenian capital operate in Kazakhstan, while more than 100 enterprises with Kazakh investments are registered in Armenia.
"I am pleased to note the growing engagement between the business communities of our countries. This year, three business forums have been held," the ambassador highlighted. Specifically, a business mission of Kazakh entrepreneurs visited Armenia in March, followed by a Kazakh-Armenian business forum in April featuring the Ministers of Economy and Trade from both countries. In August, Armenian entrepreneurs reciprocated with a visit to Kazakhstan.
"We are firmly committed to deepening and expanding our trade and economic ties. We have the necessary reserves and potential to achieve this," concluded Bolat Imanbayev.
Previously, BMG reported that, according to Armenia's Statistical Committee, the total trade turnover between the two countries exceeded $100 million in 2023. Particularly notable was the 3.8-fold increase in Armenian exports to Kazakhstan, which reached $71.32 million. Imports from Kazakhstan also showed positive growth, rising by 23.6% to $29.2 million.
