During today’s session, the Government of Armenia approved the proposal to conclude an agreement on trade and economic cooperation between the Governments of Armenia and Kazakhstan in the field of supply of petroleum products to Armenia.

Minister of Territorial Administration and Infrastructure Suren Papikyan said the need to conclude this agreement is due to the interest in cooperation between Armenia and Kazakhstan for delivery of petroleum products.

“By this agreement, import of petrol products from Kazakhstan to Armenia will be exempt from customs duty. The competent authorities of the parties draw up the balance for manufacturing, import and export of goods for internal consumption in the territory of Armenia, and they approve the list of goods delivered from Kazakhstan to Armenia through the conclusion of an interdepartmental protocol,” the minister said.

Deputy Prime Minister Tigran Avinyan added that this will provide Armenia with the opportunity to import Kazakh fuel with better conditions. “This will create an opportunity for some competition in Armenia’s fuel market, meaning it will have an impact on the petrol market in Armenia,” Avinyan added.

Chairman of the State Commission for the Protection of Economic Competition Gegham Gevorgyan noted that this will diversify the market and identify new players.