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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