Monday, May 27 2019 13:58

ArmInfo. Kazakhstani companies in the field of refining and selling petroleum products are showing interest in the Armenian market. Ambassador of Kazakhstan to Armenia  Timur Urazaev said this at a press conference in Yerevan on May 27,  responding to a question from ArmInfo regarding Kazakhstani companies  that show investment interest in the Armenian market.

"We all probably share the principle that you must first build a good  economic basis in both bilateral and multilateral relations, and then  lay down some new initiatives in a closer integration understanding,"  the ambassador of Kazakhstan said.

Speaking of Kazakhstani companies expanding their participation in  the Armenian economy, the Ambassador reminded that there are  Kazakhstani companies in Armenia, which hold stock in such large  companies as brandy factories and mining companies. "A new direction  will probably be the participation of Kazakhstani companies in the  field of refining and sale of petroleum products - gasoline, oils and  other factions. I cannot name companies by name, firstly, this is not  a commercial secret for some reason, but rather it is the prerogative  of the companies themselves to make public "He emphasized. Secondly,  according to the Ambassador, the market is a freely forming field of  activity, and there is no decree on investments "from above", since  this is not how business is done. However, the fact is, Urazaev  remarked, that these negotiations are not only conducted, but a good  contractual base is being prepared for them, which is already at the  final stage.

In this context, the Ambassador recalled that there was information  in the media about 2-3 Kazakhstani companies that want to participate  in the Armenian gasoline market. However, according to him, how much  their plans will correspond to the desired volume for the Armenian  market is a secondary question, since this is a private business, and  the gasoline market of Armenia is not so big for potential  Kazakhstani exporters.

At the same time, Urazaev stated that small or even medium-sized  companies with small working capital, as a rule, cannot deal with  this, because it is very difficult for small companies to work with a  small market, and with difficult logistics. "It should be some big  company with a diversified activity," the Ambassador said. In this  context, he stressed that since 2005, Kazakhstan's investments in the  Armenian economy have amounted to more than $ 50 million and they are  gradually increasing, although their activities are not always well  visible, since they are part participants in various projects.

However, according to the Ambassador of Kazakhstan, Kazakhstani  products appear little by little on the Armenian market, starting  from the products of the Ural Transformer Plant and ending with the  confectionery company Rakhat. According to him, they all implicitly  participate in the Armenian economy.

At the same time, the diplomat stated that the Armenian investments  in Kazakhstan are not so great, "But given the fact that Kazakhstan  proclaims a new strategy of economic diplomacy, our colleagues  abroad, including our embassy here, urge businessmen to invest in the  economy of Kazakhstan, to take part in projects on the territory of  the Republic of Kazakhstan, which are highly efficient and  transparent enough to be implemented, "the diplomat concluded.