President of Kazakhstan proposes joint investment projects to Armenia

Armenia is an essential and dependable partner for Kazakhstan in the South Caucasus region. This statement was made by President Kassym-Jomart Tokayev of Kazakhstan following his meeting with Prime Minister Nikol Pashinyan of the Republic of Armenia in Yerevan.

"We hold profound reverence for Armenia's ancient history, rich culture, and traditions. Armenia is an essential and dependable partner for Kazakhstan in the South Caucasus region. Our relations are founded on an enduring friendship and mutual support.  Our shared objective is to enhance bilateral relations. Our aims and interests align in promoting regional and international peace and security.  We are keen on advancing our comprehensive partnership with Armenia, and hence, today's visit holds special significance for me," stated the President of Kazakhstan.

He emphasized that the discussions with Prime Minister Nikol Pashinyan of the Republic of Armenia underscored a mutual commitment to maintaining the partnership at the highest level.

Tokayev noted that they discussed various current agenda issues with the Prime Minister of the Republic of Armenia and reached concrete agreements.

"We paid special attention to expanding cooperation in trade-economic, and investment spheres. Over the last 5 years, bilateral trade volume has steadily increased, but the full potential has not been fully used.  Therefore, we believe it is necessary to accelerate exchanges and explore new directions to boost trade turnover.  Concrete measures must be taken to expand the list of export and import goods, making the most efficient use of existing opportunities. Kazakhstan is prepared to increase exports to Armenia to $350 million," he stated.

He emphasized the need to activate relations in industry, finance, innovation, tourism, agriculture, and other sectors. "I proposed to Armenia to undertake several joint investment projects, especially pertinent in today's challenging geopolitical environment. The focus of the intergovernmental commission is directed towards advancing efforts in this direction," added the President of Kazakhstan.

Tokayev also emphasized that it is necessary to activate contacts between the business circles of the two countries, which will allow improving investment relations.

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