Monday, April 15 2024 11:50

ArmInfo. Armenia and the EU discussed the possibilities of expanding trade and economic cooperation. This was reported by the press service of the Ministry of Economy, referring to the results of the meeting between Minister Gevorg Papoyan and the Head of the EU Delegation to Armenia Vassilis  Maragos.

In particular, during the meeting, special attention was paid to  issues related to financial and technical assistance in the economic  sphere provided by the European Union, bilateral and multilateral  cooperation within the Eastern Partnership, jointly implemented  programs and initiatives.

In addition, the implementation of the provisions enshrined in the  Armenia-EU Comprehensive and Enhanced Partnership Agreement (CEPA),  the processes of rebranding and launching the new name "Armenian  Cognac", the EU program for promoting entrepreneurship, the use of EU  technical support tools (TAIEX, Twinning).

The parties exchanged views on the priority directions of the  Armenian economy, stimulation and diversification of exports,  attracting investments, developing the capital market, improving  quality infrastructure, and developing agriculture.

The importance of Armenia's commitment to deepening relations with  the EU within the framework of new realities and readiness to take a  more active part in regional programs implemented by the EU was  noted.

It is reported that during the meeting, the minister presented to the  guests the basic principles of the government's "Crossroads of the  World" project.

According to the RA Statistics Committee, Armenia's foreign trade  turnover with EU countries in 2023 amounted to $2.6 billion, an  annual increase of 17.1%. At the same time, exports decreased by 8.2%  to $709.5 million, while imports increased by 30% to $1.9 billion.