Armenia's Trade with Arab Countries Could Reach 1 Billion Dollars This Year: Kerebhan

The Minister of Economy, Vahan Kerebhan, has announced that Armenia's trade with Arab countries could reach 1 billion dollars in 2023. He made these remarks in an interview with 'Global Citizen.'

According to the minister, the United Arab Emirates (UAE) is Armenia's main trading partner, and there is also an observed increase in trade with Saudi Arabia.

He noted that the expansion of cooperation began at the Dubai Expo 2020, during which significant efforts were made to improve Armenia's relations with the UAE and other Arab countries. Kerebhan stated that this has created more opportunities for Armenia.

“Since then, and because we have personal relationships with ministers in the UAE, we can say that things are moving quickly,” the minister explained.

Among the main areas of cooperation, he highlighted finance, diamond, and jewelry production.

“Armenia is part of the Eurasian Economic Union, which has good connections with other countries, while the UAE is a trade hub for Gulf countries and other regions, making it easy to connect with various businesspersons and work together. Trade has been very good this year, several investment projects are being implemented in those countries, and more are in the development stage,” he stated.