ArmInfo. According to preliminary calculations, the list of potential exports from Kazakhstan to Armenia amounts to more than 125 processed goods worth $350 million, Kazakh Minister of Trade and Integration Arman Shakkaliev stated at the opening of the Armenian-Kazakh business forum, which was held in Yerevan on April 9.
Noting that trade turnover between the countries is growing significantly, he added: "There are good indicators and reserves in aluminum rolling, trade in batteries, great interest in the supply of agricultural and food products, including wheat, wheat flour, rye flour, sunflower oil, safflower oil, various additives to confectionery products, the confectionery product itself."
Along with trade, according to him, investment relations are also developing. Thus, the volume of direct investments from Armenia to Kazakhstan amounted to $18.6 million, from Kazakhstan to Armenia - $56 million. "This is, of course, not the limit. These amounts only set a certain vector, a guideline for us to further increase," Shakkaliev emphasized. He also noted that today there are more than 380 companies with Armenian capital and 72 Kazakh-Armenian companies operating in Kazakhstan in various sectors of the economy.
He named the construction sector and the production of building materials as a promising industry in the context of cooperation. "We have built up significant competencies and experience in the construction of infrastructure, residential, social and other facilities. Our companies are showing interest in implementing such projects in Armenia," said the Kazakh official.
Car production, development of digital solutions, and processing of agricultural products, according to the minister, are also promising industries for cooperation. In this regard, Arman Shakkaliev suggested that Armenian businesses consider the possibility of processing agricultural products in Kazakhstan, especially in the western regions of the state.
At the same time, the minister said that today, together with the Embassy of Armenia in Kazakhstan, work is underway to use the capabilities of the International Center for Cross-Border Cooperation "Khorgos" by Armenian manufacturers, which is the gateway to China. "I am confident that Armenian manufacturers, especially jewelry and alcoholic beverages, will, of course, find their buyer in China," he emphasized.
Referring to the results of the meeting of the Armenian-Kazakh intergovernmental commission held the day before, Shakkaliev expressed confidence that in the near future a road map will be signed between the parties, which sets out the issues of creating favorable conditions for mutual trade.
"You and I are in the same economic union. All legal foundations have been laid for the development of relations. Now we need to show all these opportunities to Armenian and Kazakh businesses so that they know where and what we can help with," he said.
During the business forum, issues related to the development of trade and economic relations, tourism and logistics between Armenia and Kazakhstan were discussed. Meetings were held between business representatives of the two countries in the B2B format, and a number of agreements were signed. In addition, memorandums of understanding were signed by the Foreign Trade Chamber of Kazakhstan and the Chamber of Commerce and Industry of Armenia, Kazakh Invest JSC and the Investment Promotion Agency of Armenia, Kazakh Tourism National Company JSC and the Tourism Federation of Armenia.
According to the RA Statistical Committee, the foreign trade turnover between Armenia and Kazakhstan in 2023 jumped 2.4 times, amounting to $100.5 million. In particular, a significant increase in exports of 3.8 times was accompanied by an increase in imports by 23.6%, the volume of which amounted to $71.3 million and $29.2 million. As a comparison, we note that in 2022 growth was also recorded in the direction of Kazakhstan, but then imports were at a high rate - 3 times with an increase in exports by 67.4%, which increased foreign trade turnover by 2.2 times between Armenia and Kazakhstan.
