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Kazakhstan, Armenia see triple surge in trade turnover

Economy Materials 13 April 2024 13:33 (UTC +04:00)
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, April 13. The bilateral trade between Kazakhstan and Armenia increased 3.5 times over the last 5 years, said President of Kazakhstan Kassym-Jomart Tokayev in an interview with Armenian media, Trend reports.

"Trade and economic collaboration serve as the cornerstone of Kazakhstan and Armenia's relationship. Over the past five years, our bilateral trade has surged by 3.5 times. In 2023 alone, trade turnover spiked by 23 percent," he said.

The president noted that logistical challenges between the two countries are impeding the realization of their full trade potential.

"Nonetheless, the opportunities in export-import underscore a significant potential for expanding our trade ties substantially. A recent business forum in Yerevan, where Kazakhstani and Armenian entrepreneurs mingled, underscored this point vividly," Tokayev said.

He pointed out that, today, Kazakhstan stands ready to boost exports across 70 product categories, ranging from raw materials to finished goods, totaling $350 million. These encompass products from metallurgy, petrochemicals, food, construction, and agriculture.

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