New agreement to provide better terms for import of oil products from Kazakhstan to Armenia

The Armenian Government approved today an agreement on trade and economic cooperation with Kazakhstan in the field of supply of oil products.  

The signing of the agreement will promote mutually beneficial cooperation between the two countries, create favorable conditions for the development of trade and economic relations, and encourage business activity.

“The signing and ratification of this agreement will allow to import fuel from Kazakhstan on better terms, which means there will be some competition in our fuel market,” Deputy Prime Minister Tigran Avinyan said. According to him, this will, in turn, affect the petroleum market in Armenia.

Prime Minister Nikol Pashinyan also attached importance to the signing of the agreement. “Although we say that after 2018 monopolies, particularly in the oil market, have reduced, they have not been fully eliminated, and we have much to do to protect the rights of consumers and encourage competition.  Our political commitment is not to allow any artificial monopoly in Armenia, because it primarily affects the citizens and consumers.

“People should have the opportunity to buy quality goods at the best possible price,” he said.

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