ArmInfo.With the assistance of the Belgian Armenian Chamber of Commerce and Wallonia Export-Investment Agency (AWEX) a delegation of representatives of Belgian companies will arrive in Yerevan on October 18-19. At the initiative of the agency, an official reception will be held on October 19, as well as individual meetings with representatives of Belgian companies.
Armenia is Belgium's 121st importing country (Belgian goods worth 86 million euros were exported to Armenia) and the 94th supplying country (Armenian goods worth 136.2 million euros were exported to Belgium in 2022). Since 2020, trade between Belgium and Armenia has almost tripled and is expected to exceed EUR 300 million in 2023. Over the past few years, the trade balance has been in Armenia's favor. The export of Armenian goods is dominated by precious stones, metals and products of the chemical and pharmaceutical industries. Five Belgian companies have registered to participate in the initiative: Buzon: Production of building materials; Lotronic: Lighting equipment; Medaro (www.medaro.be): aromatic and medicinal plants; JGI Hydrometal: recycling of non-ferrous metal waste; Citadel Real Estate: development of the real estate market.
Participating companies will be given the opportunity to find partners for importing products and suppliers, as well as explore investment opportunities in Armenia. Some Belgian products are already represented on the Armenian market, including chocolate raw materials for the production of high-quality confectionery (Cargill Chocolate), a large selection of beer in Parma and Houl supermarkets, Bardahl lubricants available in Autosan, jewelry from Ice-Watch, which is available online, and also in Dalma Garden Mall, modern tableware from Eternum, which is available in Complex Bar.
In addition to the aforementioned companies, various Belgian brewing and pharmaceutical companies have currently prepared cooperation agreements for Armenian partners. The goal of this initiative is to strengthen and expand economic relations between Armenia and Belgium.
Mr. Eric De Muynck, who was appointed the first resident ambassador of the Kingdom of Belgium to the Republic of Armenia, recently presented his credentials to RA President Vahagn Khachaturyan.
According to the RA Statistics Committee, foreign trade turnover between Armenia and Belgium in January-August 2023 increased by 5.6%, amounting to $96 million. At the same time, exports increased by 7.3% to $57 million, with imports growing by 3.1% to $39 million.
