Tula entrepreneurs looking to grow in the Armenian market

ArmInfo. Entrepreneurs from Tula are looking to increase their presence in the Armenian market and explore opportunities for expanding their activities in the  region.  This was announced during the business mission of  entrepreneurs from Tula to Armenia, which began on November 19 and  will continue until November 21.  During the meeting at the Trade  Mission of the Russian Federation in Armenia, it was highlighted that  there are great prospects for long-term cooperation in the field of  production and the supplying food products to the retail chains in  Armenia.

Anna Donchenko, the Trade Representative of Russia in Armenia,  presented   the delegation with information on entering the regional  market. She provided detailed information on Russian-Armenian trade  turnover and noted, promising regional niches for developing Russian  exports to Armenia. These niches include agriculture, mechanical  engineering, food, construction materials, and information and  telecommunication technologies.

said Anna Donchenko.  She  also reported on government support measures, including financial  subsidies, non-financial support measures, and various programs to  promote foreign trade. 

According to the Statistical Committee of Armenia, trade turnover  between Armenia and Russia increased by 99.2% in the first 9 months  of 2024, amounting to $9.7 billion. However, exports decreased by  15.5% to $2.2 billion, while imports grew by 3.4 times to $7.5  billion.