Armenian Economy Minister, Russian counterpart discuss expanding bilateral trade turnover

The Minister of Economy of the Republic of Armenia, Gevorg Papoyan in Moscow met with the Minister of Economic Development of the Russian Federation, Maxim Reshetnikov.

According to the Ministry of Economy of Armenia, the meeting focused on expanding trade and economic cooperation between Armenia and Russia, activating mutual trade and increasing the volume of trade turnover.

Minister Papoyan outlined the priorities of Armenia’s economic sector, the state support framework, investment policies, and the steps taken to improve the business environment.

The discussion also included the potential for increasing tourist flows between Armenia and Russia. Minister Papoyan emphasized that the Russian market is one of Armenia’s main target destinations, though significant untapped potential remains between the two countries, which needs to be activated.

Special attention was given to the activities of the Strategic Development Center, established in 2022. The research conducted by the Center in 2024 helped the Ministry of Economy of Armenia identify potential opportunities to increase the supply of Russian goods to Armenia and assess the needs of Armenian companies in digital technologies to facilitate cooperation with Russian IT companies.

Armenian Minister of Economy Gevorg Papoyan is on a working visit to Moscow, Russia, from March 19-21, to discuss several issues related to bilateral cooperation. Minister Papoyan is accompanied by Deputy Minister Narek Hovakimyan and the Chairperson of the Tourism Committee of the Armenian Ministry of Economy, Lusine Gevorgyan.