ArmInfo. The International Business Relations Council (IBRC) has signed a memorandum of cooperation with a European insurance company to assist Armenian businesses in avoiding financial risks. IBRC CEO Mariam Manukyan announced this in an interview with an ArmInfo correspondent at the Council's a year end event for 2025.
She clarified that from now on, export-oriented Armenian manufacturers can now enter into agreements with the European Insurance Company to provide insurance coverage for 85% of an invoice in the event of non-payment by a buyer. "Many businesses complain that exporting on installment plans (deferred payment) disrupts their production cycles. This new cooperation allows them to maintain a steady financial turnover even when payments are delayed," Manukyan said.
At the same time, the head of the Council noted that micro, small, and medium-sized entrepreneurs in Armenia face difficulties when attempting to raise funds from banks due to strict requirements. "We are intermediaries who can act as guarantors for businesses in terms of access to financial services. And those entrepreneurs who have credit lines can become beneficiaries of the IBRC, as we conduct training, educate, and help them build their businesses more effectively, which reduces the risk of incurring liabilities to banks," Manukyan clarified.
In addition to improving financial accessibility, she pointed out the logistical challenges facing Armenian businesses. "No matter how hard we try to improve productivity and bring prices and quality in line with international standards, we won't be competitive unless we have an effectively established logistics system," the expert noted.
Mariam Manukyan highlighted the opening of the National Warehouse in the USA as one of the council's most effective projects, with launch preparations nearing completion. Once fully operational, Armenian producers will be able to showcase a wide range of products, from textiles and beverages to various services. "This is not achieved overnight. We are talking about site planning, obtaining necessary permits, certification, and meeting technical specifications. We have cleared these stages, and we can say that 70% of the work in this direction is already complete," she said.
Manukyan also noted that, through IBRC programs, Armenian businesses have demonstrated year-on-year growth in exports to the United States. These exports are primarily food products. Total exports amounted to $1.5 million.
It should be noted that, according to the Statistics Committee, foreign trade turnover between Armenia and the United States in January-November 2025 decreased by 17.4%, amounting to $314.8 million. Additionally, exports decreased by 14.7% to $46.2 million, amid a 17.8% decline in imports to $268.6 million.
