Armenia, Germany discuss issues of expanding trade and economic  relations

ArmInfo.Armenia and Germany discussed issues of expanding trade and economic relations. RA Foreign Minister Ararat Mirzoyan stated this on February 7 at a joint  press conference with German Foreign Minister Annalena Baerbock.

According to him, during the meeting, satisfaction was expressed with  the current high level of political dialogue between the two  countries, the issues of expanding bilateral cooperation based on  democratic values and common perception were touched upon, the  importance of Germany's assistance to democratic reforms in the  Republic of Armenia, as well as interaction on multilateral  platforms.

"Naturally, we discussed issues of Armenian-German cooperation in the  economic sector, especially taking into account the fact that Germany  is the main economic partner of the Republic of Armenia in the  European Union, and German capital is represented in the Armenian  economy. We must work towards ensuring positive dynamics in trade and  economic relations, stimulating business contacts," Mirzoyan said.

At the same time, he added that cooperation in the financial and  technical sectors occupies an important place in bilateral relations.  Mirzoyan noted that the activities of GIZ and KfW Bank are highly  appreciated in Armenia.

"In the context of human contacts, of course, Germany's position on  the issue of ensuring progress in the process of launching a dialogue  between the Republic of Armenia and the European Union on the  liberalization of the visa regime is important for us. The meeting  agenda included important issues on the partnership agenda, including  in the areas provided for by the Comprehensive and Enhanced  Partnership Agreement, the Eastern Partnership program and other  platforms where we interact," he said.

At the same time, the minister expressed gratitude to the EU for the  decision to send a new, long-term monitoring mission to Armenia. "We  are confident that this mission will play an important role in  ensuring the security of people and establishing regional stability,  as well as promptly informing our European partners about the current  situation," Mirzoyan said.

In turn, the German Foreign Minister, recalling that last year  Armenia and Germany celebrated the 30th anniversary of the  establishment of diplomatic relations, noted that this meeting is a  good opportunity to discuss pressing issues on the bilateral agenda.

It should be noted that according to the data of the National  Statistical Committee of the Republic of Armenia, Germany ranks 5th  in terms of foreign trade turnover, with an improvement in y-o-y  dynamics from a 2.5% decline to an 83% increase, with a volume of  $530.4 million. Germany managed to stay in the top five in terms of  foreign trade due to a sharp improvement in the dynamics of imports  from an 11.9% decline to a 99.9% increase - up to $ 424.3 million  (4th place), with a restrained slowdown in export growth from 37.4%  to 36.7% - up to $106.1 million. As a result, Germany's share in  Armenia's foreign trade turnover increased imperceptibly in 2022 -  from 3.5% to 3.8%, due to a slight increase in the share in imports -  from 4% to 4.8% with a decrease in the share in exports from 2.6% to  2%.