ArmInfo. On September 7, Armenian Economy Minister Gevorg Papoyan met with UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi as part of the 15th Annual Investment Forum held in Dubai.
The parties discussed a number of issues related to expanding trade and economic cooperation between Armenia and the UAE and creating new opportunities.
In the context of diversifying export geography, the importance of simplifying the process of entering the UAE market for Armenian exporters was emphasized. Gevorg Papoyan proposed creating a mechanism for direct interaction with relevant UAE authorities, which would allow Armenian companies to better understand market requirements, current standards, and certification procedures.
The Armenian Minister of Economy also proposed organizing visits for UAE business representatives to Armenia to familiarize themselves with production capabilities, conduct B2B meetings, and move from trial deliveries to long-term contracts.
The parties also discussed other issues of mutual interest.
According to the Statistics Committee, trade turnover between Armenia and the UAE decreased by 72.1% in January-July, amounting to $356.5 million. Exports, meanwhile, decreased by 73.7%, amounting to $325.4 million, amid a 29.4% decline in imports, reaching $31.1 million.
