Armenian-Kazakh oil supply deal 'beneficial for our petrol market' - deputy PM

The executive on Thursday approved a proposal for signing a trade-economic cooperation deal between the governments of Armenia and Kazakhstan to regulate the delivery of oil supplies.

Introducing the bill to the cabinet, Minister of Territorial Administration and Infrastructures Suren Papikyan attached priority to the agreement as a "mutually beneficial cooperation interest" in the delivery of oil products.

Deputy Prime Minister Tigran Avinyan also emphasized the importance of the idea, which he said had been negotiated long to facilitate the import of fuel from Kazakhstan to Armenia. He said they also expect its positive impact on the domestic market. Avinyan agreed that the deal will additionally promote competitiveness for the Armenian businesses operating in the sector.

Prime Minister Nikol Pashinyan also positively reacted to the initiative. "It is our political commitment to root out any artificial monopoly in Armenia as that first of all affects the protection of our consumers' rights," he added.