ARMENIAN-KAZAKH INTERGOVERNMENTAL COMMISSION MEETS IN YEREVAN FOR MAIDEN SESSION

Armenpress
Oct 12 2005

YEREVAN, OCTOBER 12, ARMENPRESS: An extensive Kazakh delegation,
headed by deputy foreign minister, is in Yerevan participating in the
first Armenian-Kazakh intergovernmental meeting, which is to explore
trade boosting and harmonization of relevant legislation.

According to Armenian cochairman of the bilateral commission, Samvel
Avetisian, the trade in 2004 amounted to $14 million, not large,
but a drastic increase against $7 million a year before. Armenian
exports to Kazakhstan last year grew by 66 percent. The main areas
that interest Kazakh businessmen here are agricultural produces
processing and construction.

Armenia in turn is interested in Kazakh fuel sector.

The meeting will end by signing a number of agreements. A Kazakh
Mobilex Energy has pledged today $100 million of investments in
Armenia to build 5-6 enterprises in agricultural sector and also in
processing of stone and glass. The company is managed by an ethnic
Armenian, David Varagian and already owns an agricultural enterprise
in Armenian Etchmiadzin.