ArmInfo.Armenia and Belgium have many opportunities to expand cooperation in technology and innovation. This was stated by Gevorg Papoyan, the Minister of Economy, during a meeting with Eric De Muynck, the Ambassador of the Kingdom of Belgium to Armenia. He also mentioned the potential for joint initiatives, given the opportunities presented by Armenia's free economic zones.
As reported by the press service of the Ministry of Economy, the parties discussed the potential for strengthening economic relations between Armenia and Belgium, as well as increasing trade turnover. During the meeting, Papoyan noted that Armenia seeks to expand the export of its agro-food products, such as wine, honey, cognac, beer, chocolate and mineral water. To achieve this goal, the Minister proposed to the Belgian side to provide information on upcoming events in the Belgian agro-food sector, including exhibitions, conferences, fairs, trade missions and conferences.
The interlocutors also touched several issues related to economic diversification. The Minister presented the Crossroads of Peace project initiated by the Armenian government. Note that according to the RA Statistical Committee, foreign trade turnover between Armenia and Belgium increased by 29.1% year-on-year in January-August 2024, reaching $124 million. In particular, exports increased by 50.5% to $85.7 million, while imports decreased by 2% to $38.3 million.
