Translated with AI from the Russian original.
The Ministry of Economy of Armenia announced its intention to significantly expand trade and economic cooperation with Middle Eastern countries. Concurrently, the authorities are focusing on stimulating exports and reducing dependence on narrow areas of foreign trade, viewing the region as one of the key drivers of future growth.
Recently, a meeting was held in Yerevan between Deputy Ministers of Economy Arman Khojoyan and Narek Hovakimyan and diplomatic representatives of the UAE, Kuwait, Iraq, and Qatar. The parties discussed how to transform existing export sector limitations into new opportunities, activate business ties, and launch joint projects aimed at mutual benefit.
According to the Armenian statistical agency, in January–March 2026, trade turnover with the UAE reached $161.5 million, and with Iraq — $78.5 million. Notably, the UAE has consistently been among the top three largest foreign trade partners of the country in recent years, making the region one of the key directions of Yerevan's economic strategy.
