Sarah Morgenthau: US is ready to expand economic relations with  Armenia

ArmInfo. Minister of Economy of Armenia Gevorg Papoyan received US State Department Special  Representative for Commercial and Business Affairs  Sarah Morgenthau.   During the meeting, the Minister noted that Armenia highly  appreciates the active support of the US in establishing long-term  peace in the region and in preserving the territorial integrity and  sovereignty of the Republic of Armenia.

Sarah Morgenthau, in turn, confirmed her readiness to expand economic  relations with Armenia and consider new opportunities for sectoral  cooperation. In addition, the Special Representative expressed  support for Armenia in restoring the infrastructure of the regions  affected by the natural disaster.

The parties discussed trade and economic cooperation between Armenia  and the United States, diversification of Armenian exports,  considering the American continent as a new export destination.  In  this context, the interlocutors touched upon the issue of Armenia's  hosting the next Edition of the Americas Competitiveness Exchange  Program this fall, which will provide an exceptional opportunity to  demonstrate Armenia's economic potential and stimulate new business  ties with North and South America.

According to the press service of the Ministry of Economy, Papoyan  presented the guest with the government's project of the Crossroads  of Peace, its capabilities and principles.

According to the RA Statistical Committee, foreign trade turnover  between Armenia and the United States decreased by 39% year-on-year  in January-April 2024, to $143.9 million. At the same time, exports  increased by 18.5% to $17.4 million, against the backdrop of a 42.9%  decline in imports to $126.5 million.