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Armenian president visits Kazakhstan, discusses cooperation.

Armenian president visits Kazakhstan, discusses cooperation. During his visit to Kazakhstan , Armenia ’s president Robert Kocharyan met with his Kazakh counterpart Nursultan Nazarbayev. They discussed the prospects of further cooperation. According to Nazarbayev, trade turnover between the two countries is very small. It stood at only USD 16.5mn in Jan-Aug 2006 and at USD 45.2mn in 2005 according to Kazakh statistical agency’s data. The Kazakh president considers that one of the reasons for such lower indicator is the lack of legal framework for cooperation between the 2 countries. During the visit several agreements were signed, which should boost the level of cooperation. The most important deals endorsed in Astana were: accord on encouragement and mutual protection of investments, accord on the international automobile transportation and on passenger travel. Besides, a convention on exclusion of double taxation was signed. In turn, Kocharyan expressed hope that his visit would encourage investment activity of Kazakh businessmen in Armenia .

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