The Minister of National Economy for Kazakhstan, Alibek Kuantyrov, recently held a meeting with the Extraordinary Plenipotentiary Ambassador of the Republic of Armenia to Kazakhstan, Armen Ghevondyan, to discuss various matters related to trade, economic, and investment cooperation between the two nations.
Both parties acknowledged the importance of strengthening business relations and promoting mutually beneficial ties between companies in their respective countries.
Reportedly, Alibek Kuantyrov expressed Kazakhstan's interest in establishing cooperative projects, including those within the International Center for Border Cooperation 'Khorgos'. He also emphasized the significance of attracting investment and promoting the development of the creative and IT industries, as outlined in the President's Address to the "Economic Course of Fair Kazakhstan."
Although Kazakhstan and Armenia do not share a border, Kuantyrov sees excellent potential for increased business cooperation and exports of IT products.
Ghevondyan provided information on investment offers from the Armenian side, such as the free economic zones of "Alliance," "Meridian," and "Megri," as well as the planned logistics center in the city of Gyumri.
In 2022, Kazakhstan and Armenia traded $41.6mn, exporting $26.9mn and importing $14.7mn.
Since the beginning of 2023, the trade turnover between the two countries has surpassed $20mn.
Armenia and Kazakhstan have maintained diplomatic relations since August 27, 1992. The two nations boast embassies in each other's respective countries, with Armenia's embassy in Astana and Kazakhstan in Yerevan.
Both Armenia and Kazakhstan are full members of various international organizations, including the Eurasian Union, the Collective Security Treaty Organisation, the Organization for Security and Co-operation in Europe, and the Commonwealth of Independent States.
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