Economic cooperation

About economic cooperation

Between the Republic of Kazakhstan and the Republic of Armenia

In the sphere of economic cooperation in 2016, the growth of mutual trade by 46% was noted. According to the statistical service of Armenia, the volume of Armenia's trade with Kazakhstan amounted to $ 6 million.631 thousand of which Armenia's exports to Kazakhstan amounted to $ 5 million 952 thousand, and imports from Kazakhstan $ 678 thousand. In 2016, the volume of remittances received from Kazakhstan to Armenia from Armenian labor migrants and the diaspora amounted to $ 18.9 million.

The main products exported by Kazakhstan to Armenia are grain processing products, paper and cardboard products, pharmaceutical products, organic and inorganic chemicals. The structure of Armenian exports to Kazakhstan is made up of alcoholic and non-alcoholic beverages, jewelry and tobacco products, food products, minor batch of stone, gypsum, etc.

The low level of commodity circulation between the ROK and RA is due to a number of objective factors, the key of which is a high share of transportation costs. The main flow of cargo passes through Russia, bypassing Azerbaijan. Additional factors are a small domestic market (the population of Armenia is about 3 million people), limited purchasing power of the population (high level of poverty and unemployment), non-competitive prices of Kazakh goods in the Armenian market.

Intergovernmental commission: on October 6, 2016, the sixth meeting of the Kazakh-Armenian IPC on trade and economic cooperation was held in Astana (the fifth meeting was held in 2013 in Yerevan). At the initiative of the Armenian side in 2016, the status of the co-chairs of the IC was raised to the level of ministers (from the Kazakh side - the Minister for Investment and Development of the Republic of Kazakhstan Zh. Kasymbek, from the Armenian side - Minister of Economic Development and Investments S. Karayan).

Created at : 3.03.2017, 00:00, Updated at : 3.03.2017, 18:15