Kazakhstan Oil Products to Be Delivered to Armenia Duty-Free

The Armenian government approved a draft law on September 3 concerning the ratification of the agreement on trade and economic cooperation in the field of oil product supply between the governments of Armenia and Kazakhstan.

According to the agreement, the delivery of oil products from Kazakhstan to Armenia will be exempt from customs duties. The justification for the draft notes that the need for signing this agreement was driven by the mutual interest of the parties in regulating cooperation in the field of oil product supplies between Armenia and Kazakhstan.

The competent authorities of the parties will prepare a balance of production, import, and export of goods for domestic consumption in Armenia by December 1 of each year, including the volumes of goods delivered from Kazakhstan and Russia, and confirm the list of goods supplied from Kazakhstan to Armenia through intergovernmental agreement.

This agreement will provide an opportunity to develop long-term trade and economic relations between the two countries based on equality and mutual benefit. It will foster mutually beneficial cooperation between the two countries, create favorable conditions for the development of trade relations, and increase business activity.