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 Tuesday, December 3 2019 20:30
Alina Hovhannisyan

Kazakhstan`s Ambassador: For a broader investment partnership with  Armenia, it is necessary to develop interesting projects with  predictable results

Kazakhstan`s Ambassador: For a broader investment partnership with  Armenia, it is necessary to develop interesting projects with  predictable results

ArmInfo. Over the past 16 years, investment cooperation between Armenia and Kazakhstan has been developing, but the level is not so high. Timur Urazaev, Kazakhstan's Ambassador to Armenia, said On December 3, answering the question of  ArmInfo correspondent on the sidelines of a round table dedicated to  the export of opportunities between Kazakhstan and Armenia.

"Starting from 2003, investments from Kazakhstan to Armenia amounted  to about $ 52 million, from Armenia to Kazakhstan - less than $ 2  million. This suggests that our countries should continue the  modernization of investment laws, secondly, create interesting  projects, ensuring that their results are transparent and more  predictable, and for this the desire to invest is not enough,  a  clear goal for the investor is needed", the diplomat noted.  Continuing the idea, Urazaev explained that it is important for  investors to know what they will get and how much their investment  projects can be integrated into the integration economies of the EAEU  member countries, not to mention the global regional economies.

Regarding the investment areas, the Ambassador of the Republic of  Kazakhstan to the RA noted that while private investments are  oriented to the field of wine and brandy production, small volumes  cover jewelry and furniture production in Armenia. "But in recent  years, Kazakhstani investments in the Armenian economy are  insignificant in comparison with those investments that Kazakhstan  makes in the countries neighboring the region," he noted.

Summing up, Urazaev emphasized that investment cooperation between  the countries does not meet the real potential that exists. "In my  opinion, we should not look at these things with inherent pessimism,  but draw appropriate conclusions, identify objective reasons, and try  to eliminate them. And today's round table is a platform for a very  constructive and truly business conversation", he concluded.

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