Gevorg Papoyan: Armenia willing to enhance trade and economic ties with EU in all possible areas

ArmInfo. Yerevan, March 18, ArmInfo, Alina Hovhannisyan. Armenia places  special importance on cooperation with the EU and is prepared to  further enhance trade and economic ties in all possible areas and   directions. 

The Minister of Economy of Armenia, Gevorg Papoyan, stated this   during a meeting with Meglena Kuneva, a lecturer at the Diplomatic  Academy of the European External Action Service, former chief  negotiator and EU commissioner, and former Deputy Prime Minister of  Bulgaria.

As reported by the press service of the Ministry of Economy, the  parties discussed several issues related to the expansion of  Armenia-EU trade and economic cooperation, as well as joint programs  and initiatives.  The topics included implementation of  provisions  outlined in the Armenia-EU Comprehensive and Enhanced Partnership  Agreement (CEPA), the  rebranding and marketing of the new name of  , programs to support the entrepreneurship sector,  the use of EU technical support tools and other related matters.

The interlocutors exchanged views on the modernization of the  Armenian economy, export diversification, aligning the  standardization system with international standards, developing the  economy and supporting small and medium-sized businesses in  Armenia. They also discussed EU support in the agricultural sector.  The Minister  presented the guest with the RA government's  project and its principles.

According to the RA Statistical Committee, the volume of trade  turnover between Armenia and  EU countries decreased by 11.7% in  2024, reaching $2.3 billion. Export volumes for the year also  decreased by 13.8% to $611.6 million, while imports declined by 11%  to $1.7 billion. EU countries now account for 7.7% of Armenia's total  mutual trade.