Kazakhstan`s Ambassador to Armenia: Armenian-Kazakh trade relations  reveal previously unused potential

ArmInfo. Today, the previously unused potential is revealed in the Armenian-Kazakh trade relations, Timur Urazaev, Ambassador Extraordinary and Plenipotentiary of the  Republic of Kazakhstan to Armenia, told ArmInfo correspondent at the  fields of the business forum of the Armenian Nuclear Energy  Cooperation (Armenia-Co-operation).

He explained that following the results of 2017, the structure of export-import transactions between  Kazakhstan and Armenia remained traditional in its commodity  positions, but at the same time the growth of trade turnover was  ensured at the level of 59% against 45.9% a year earlier. In the Q1  of the current year, trade turnover increased by 29%, while the  winter-autumn period is not so active from the point of view of  trade. In this vein, the Ambassador added that in the first three  months of this year, there was a new position in mutual trade between  the two countries - steel bars. "We must assume that Armenian and  Kazakh entrepreneurs have established a good contract. And it  pleases, "he remarked.

But in general, there is practically no investment cooperation  between Kazakhstan and Armenia. Although in Kazakhstan, according to  the Ambassador, the investment environment is quite favorable,  conditions have also been created in Armenia that promote investment.  "In the case of Kazakhstan, investments will be related to trade and  transport logistics. And with this just the problem, because the  issue is not only in the absence of common land borders, but also in  the absence of the shortest economic path. And this issue has more to  do with politics, geopolitics than economics. In this regard, Urazaev  stressed, it is necessary that officials listen to business and work  to expand logistics opportunities. The ambassador also noted that the  establishment of an optimal path is not capable of solving the  problem, since, in any case, this path is not competitive in  comparison, for example, with the Russian Federation. "Therefore, we  are talking about building favorable conditions for investment and  trade business," the Ambassador concluded.

According to the Armenian National Statistics Service data, the  foreign trade turnover between Armenia and Kazakhstan in 2017  increased by 59% to $ 8.9 million. In particular, exports showed a  decrease of 2.1% to $ 4.9 million, with imports up 6 times to $ 4  million.