Monday, September 18 2023 16:31

ArmInfo. Armenia and the United Arab Emirates will soon sign an agreement in the field of food  security. Armenian Minister of Economy Vahan Kerobyan told journalists on the sidelines of the Armenian-Emirati business forum on September 18. "This will increase the availability of Armenian goods on the Emirati market, which is an important step in the context of stimulating exports," the minister said.

In this regard, he said that work with Iranian partners to simplify  and improve logistics connections for the transit of Armenian goods  through Iran to the Gulf countries is underway.

"Our goal is to eliminate barriers to trade by improving logistics  connections and contribute to the dynamic development of trade  relations," the minister said.

In order to deepen the cooperation with the UAE, Kerobyan also spoke  about the plans to sign a bilateral agreement in the field of  services and investments.

Today the Armenian-Emirati business forum started in Yerevan, in  which over 200 Armenian and Emirati companies took part. During the  forum, the investment environment of Armenia, business opportunities,  as well as success stories of Emirati companies operating in Armenia  were presented. Then investment- oriented B2B meetings took place,  during which Armenian companies presented their plans to UAE  investors. These meetings were followed by B2B discussions in the  areas of export and trade.  According to the RA Statistics Committee  data, foreign trade turnover between Armenia and the UAE in  January-July 2023 increased 2.9-fold, amounting to $545.9 million. At  the same time, exports increased 3.2-fold tto $514.5 million, with  imports growing by 4.6% to $31.4 million.