Armenia works on diversification of economy with an eye on Europe - Secretary of the Security Council
21.05.2024,
12:50
Armenia is working hard to diversify its economy with the prospect of increasing exports to Europe, Secretary of the Security Council Armen Grigoryan said.
YEREVAN, May 21. /ARKA/. Armenia is working hard to diversify its economy with the prospect of increasing exports to Europe, Secretary of the Security Council Armen Grigoryan said.
According to his assessments, the country has not yet achieved significant success in the economic sphere.
"However, the meeting held on April 5 in Brussels with the participation of the Armenian Prime Minister, the President of the European Commission, and the US Secretary of State was a very important step in this direction. We are now working intensively on the diversification of our economy, it will take a lot of time because there are many tasks in this process," Grigoryan told Civilnet.
The head of the Armenian Security Council said also that Armenia's geography also plays a very important role, and there are also certain difficulties here.
"The government realizes that Armenia needs this diversification, but for this purpose, it is necessary to develop export opportunities," Grigoryan noted.
He also emphasized the work in the direction of energy diversification and discussions with the U.S. on strengthening cooperation in the sphere of civil nuclear energy.
According to the Armenian National Statistical Service, Armenia's foreign trade turnover with EU countries in the first quarter of 2024 reached almost $494.3 million (a 27.9% decline compared to January-March 2023), of which more than $126.75 million wert Armenian exports.
The top five largest trade partners of Armenia were Germany (almost $106.6 million turnover), Italy (over $93 million), Belgium (almost $46.5 million), the Netherlands (almost $30.8 million), and France (almost $25.9 million).-0-
According to his assessments, the country has not yet achieved significant success in the economic sphere.
"However, the meeting held on April 5 in Brussels with the participation of the Armenian Prime Minister, the President of the European Commission, and the US Secretary of State was a very important step in this direction. We are now working intensively on the diversification of our economy, it will take a lot of time because there are many tasks in this process," Grigoryan told Civilnet.
The head of the Armenian Security Council said also that Armenia's geography also plays a very important role, and there are also certain difficulties here.
"The government realizes that Armenia needs this diversification, but for this purpose, it is necessary to develop export opportunities," Grigoryan noted.
He also emphasized the work in the direction of energy diversification and discussions with the U.S. on strengthening cooperation in the sphere of civil nuclear energy.
According to the Armenian National Statistical Service, Armenia's foreign trade turnover with EU countries in the first quarter of 2024 reached almost $494.3 million (a 27.9% decline compared to January-March 2023), of which more than $126.75 million wert Armenian exports.
The top five largest trade partners of Armenia were Germany (almost $106.6 million turnover), Italy (over $93 million), Belgium (almost $46.5 million), the Netherlands (almost $30.8 million), and France (almost $25.9 million).-0-
