Kazakhstan Ratifies Oil Products Supply Agreement with Armenia

The President of Kazakhstan, Kassym-Jomart Tokayev, has signed a law ratifying the intergovernmental agreement on trade and economic cooperation in the supply of oil products to Armenia. This information was shared by the press service of the state leader, as reported by 1prime.ru.

Earlier, the Ecology and Nature Management Committee of the Mazhilis (lower house) announced that the agreement defines the terms of trade and economic cooperation between the governments of the two countries for the supply of goods classified under group 27 of the product nomenclature for external economic activity of the Eurasian Economic Union (EAEU), excluding oil, electricity, natural gas, and coal.

The agreement stipulates that export customs duties for goods supplied from Kazakhstan to Armenia will not be charged according to the indicative balances provided. A ban has been established on the supply of the specified goods that are not confirmed by the list and not foreseen by the indicative balances. Customs duties for exports will not be charged in accordance with Article 28 of the EAEU treaty. Furthermore, these goods cannot be exported from Armenian territory to third countries or EAEU member states. If any violations of obligations are discovered, the Armenian side is required to compensate the Kazakh side in amounts equivalent to the volume of customs duties calculated in dollars.