Trade turnover between Armenia and EEU member countries soars by more than 90% in 11 months of 2022 to $4.6 billion. - prime minister

YEREVAN, February 3. /ARKA/. The trade turnover between Armenia and EEU member countries soared by more than 90% in the first 11 months of 2022 year-on-year to $4.6bln, Armenian Prime Minister Nikol Pashinyan said at a session of the Eurasian Intergovernmental Council in Almaty today. 

He said despite geopolitical tensions, the mutual trade among EEU member continues demonstrates positive dynamics. He added that Armenia’s imports from EEU countries grew by 505 in the reporting period.

Pashinyan called for a systematic and consistent work based on domestic capabilities and resources to ensure economic development, to improve competitiveness of national economies and the well-being of citizens.

"To achieve these goals, it is important to create a comfortable environment for businesses, to work on eliminating barriers, and to increase cooperation in the field of entrepreneurship. Certainly, measures aimed at supporting producers at all stages of production still have a decisive role," he pointed out.

In that context, Pashinyan attached importance to the elaboration and adoption of legal acts aimed at the application of mechanisms for financial support of projects, industrial cooperation with integration potential.

According to Armenia’s National Statistical Committee (NSC), the country’s foreign trade in 2022 surged by 68.8% from the previous year to over $14.1 billion, the

Exports, compared to the same period in 2021, increased by 77.7%, to over $5.3 billion and imports amounted to over $8.7 billion, recording an increase of 63.5%. -0-