Armenia’s external trade with EU states grows significantly

YEREVAN, NOVEMBER 3, ARMENPRESS. Armenia’s external trade with the member states of the European Union has significantly increased in 2022, Minister of Economy Vahan Kerobyan said during the debate of the 2023 state budget draft in the joint session of the parliamentary standing committees.

“Compared to 2021, the export from Armenia to the EU states has increased by 24,5% based on the results of the 8 months, and the import from the EU – by 40,8%. The total trade turnover has increased by 60%, comprising 571 million dollars”, the minister said.

He stated that Armenia is working with the EU partners for funding the small and medium enterprises.

“We are currently preparing the atmosphere where we will be able to provide necessary funds for small and medium enterprises. I want to note that during the summit of the EU’s Eastern Partnership in Prague last month we discussed with the EU partners also the issue of the necessity for long-term monetary funding. We agreed that in November, I think, the EBRD must approve the decision on providing 70 million Euros to the German fund operating under the Central Bank. They said it will be the last investment through this channel. Now it is very important to create a new channel through which Armenian banks can receive new funding from the European partners which will be directed to Armenia’s economic development and financing the Armenian small and medium enterprises”, he said.