A two-day Armenian-Turkish business forum is underway in Yerevan. The head of the European Delegation to Armenia called it "historic"
YEREVAN, September 3. /ARKA/. A two-day Armenian-Turkish business forum, organized by the Union of Industrialists and Entrepreneurs of Armenia (UIEA), is underway in Yerevan. The Head of the EU Delegation to Armenia, Vasilis Maragos, speaking at the opening of the forum, called it "historic."
"It is truly a great pleasure and honor for me to participate in this event. I would like to reaffirm the European Union's support for contacts between the business communities, the normalization of relations between Turkey and Armenia, as well as new connectivity projects and business contacts," Maragos said.
According to him, peace and normalized relations in the region can benefit all parties, contributing to the creation of new jobs, attracting investment, and strengthening stability.
"This meeting itself, your visit to Armenia, is a very good signal. This is a very good signal for Brussels," the head of the EU Delegation emphasized.
He expressed confidence that further development of contacts will create new opportunities for business and employment, and will also allow people on both sides of the border to get to know each other better.
Support for the Private Sector
Speaking about the development of relations between Armenia and the EU, Maragos highlighted two key areas, one of which is support for the private sector.
According to him, a number of initiatives aimed at stimulating private investment from Armenia and Europe have been launched, and the call for proposals remains open.
"The European Union has long supported the private sector in Armenia through lending operations, liquidity provision, and cooperation with the Central Bank and commercial banks. Last year alone, we allocated over €200 million," Maragos stated.
He named the development of connectivity, including in transport and energy, as a second important area.
Infrastructure and Energy
Maragos noted that the EU has long been involved in supporting infrastructure projects in Armenia, particularly the North-South Highway, and sees significant potential for greater business and European partner participation in such projects.
The head of the European Delegation also mentioned the Armenian-American TRIPP project, noting the EU's support for processes aimed at developing regional connectivity.
However, he emphasized that this is not limited to transport infrastructure.
"Energy and electricity will be a very important part of our future cooperation. There is potential for cooperation in the electricity sector between Armenia and Turkey," Maragos said.
He noted that the EU is investing in new energy projects in Armenia, where a number of solar energy projects are already underway.
Furthermore, an investment project is underway to develop an interconnector power transmission line between Armenia and Georgia, worth over €500 million.
Maragos also highlighted the potential of energy storage systems, noting that battery storage systems are becoming a key new investment area in European countries.
Peace and Normalization in the Region
Maragos also touched on the peace process between Armenia and Azerbaijan and its importance for regional normalization.
"Very important developments have occurred since last year, when the peace agreement between Armenia and Azerbaijan was initiated in Washington. This was a very important signal of support from our American partners," he said.
According to the head of the European Delegation, developing business and people-to-people ties could become one of the practical foundations of the normalization process in the region.
"This is trade and interaction between people. It is people like you who will ensure that peace and normalization actually work on the ground. This depends not only on governments and not only on European institutions," Maragos emphasized.
He noted that the EU intends to continue supporting such initiatives and contacts between business communities, and also emphasized the importance of interaction between young people, language learning, and strengthening mutual understanding. According to Maragos, such contacts are essential for the sustainable development of trade, the creation of joint business opportunities, and the expansion of cooperation in tourism.
"I think the tourism potential on both sides of the border is truly enormous. This will create many new opportunities for employment and investment," he said.
Maragos added that cooperation could also contribute to addressing shared challenges in environmental protection and water resource conservation.
"The European Union is ready to support such initiatives," the head of the European Delegation stated.
Trade and Regional Normalization
The head of the European Delegation emphasized the EU's support for Armenia in the trade sector and noted the importance of trade and economic ties for the regional normalization process.
He noted that developing direct contacts between entrepreneurs could become a practical tool for strengthening peace.
"It is people like you who will ensure that peace and normalization truly work on the ground. This depends not only on governments and not only on European institutions," Maragos stated.
He noted the importance of further developing contacts between entrepreneurs, youth, and residents of the two countries, emphasizing the prospects for joint business projects and tourism.
"The tourism potential on both sides of the border is truly enormous. This will create numerous new opportunities for employment and investment," said the head of the European Delegation.
According to him, expanding cooperation will also allow Armenia and Turkey to work together on issues such as environmental protection and water resources.
"The European Union is ready to support such initiatives," Maragos emphasized.
The forum is organized within the framework of the EU-funded "Supporting the Armenian-Turkish Settlement: Strengthening Cross-Border Ties" program.
