An Armenian-Kazakh business forum has been held in Yerevan today, December 10. The forum was organized by the Kazakh Embassy in Armenia and Union of Manufacturers and Businessmen of Armenia (UMBA).

Kazakhstan is not only the largest economy in Central Asia, but also one of the most rapidly developing. Although Armenian-Kazakh economic ties have long history, and bilateral political relations are at a high level, the potential for economic cooperation remains unrealized.

RA Minister of Diaspora Hranush Hakobyan was invited to the forum. Kazakhstan states it is open to the Armenian Diaspora’s investments.

Kazakh Ambassador to Armenia Ayimdoz Bozjigitov said that Armenian-Kazakh annual turnover totals U.S. $300. Kazakhstan is interested in Armenian engineers’ innovation project, and Kazakh banks are ready to fund investment projects in other countries. A Yerevan-Almaty flight is to start operating from December 11. “It is a promising project, as Yerevan provides access to Europe while Almaty, to China,” Ambassador Bozjigitov said.

UMBA Vice-Chairman Khachatur Piloyan pointed pout as low level of bilateral turnover. “Our economic ties are behind political ties,” he said.