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Gas supply to Armenia from Russia interrupted for 6 hours due to emergency restoration work
... service of “Gazprom Armenia”. "The supply of natural gas to Armenia was halted on December 26 from 13:00 to 19:00 due to emergency repair work on a 125-kilometer section of the “Kazakh-Saguramo” main gas pipeline (DN 1000) of the North Caucasus-Transcaucasia transit main gas pipeline, which supplies gas to Armenia," the press service of Gazprom Armenia CJSC reported. The company stated that during this period, uninterrupted and reliable gas supply to consumers in Armenia would ...
12/26/2024Pashinyan to Macron: Armenia-France relations have reached important milestone, transforming into strategic partnership
... gratitude once again for the continuous support of the friendly French Republic and for your personal efforts aimed at strengthening the sovereignty, resilience and democracy of Armenia, as well as at establishing lasting and just peace in the South Caucasus region. Taking this beautiful opportunity, I would like to congratulate you on the upcoming holidays, Christmas and New Year, wishing you victories in all your endeavours in the new year, and peace and prosperity to the friendly French people....
12/21/2024IMF outlines measures to boost Armenia's economic resilience and growth
... sustainable and inclusive growth. Ongoing efforts to increase labor market participation, particularly among youth, women, and vulnerable groups, are crucial," he said. Earlier, the IMF Resident Representative in Armenia, Umang Ravat, presenting the Caucasus and Central Asia: Economic Outlook and Policy Challenges report, stated that the country's economy has the potential for annual growth of up to 5.5% over the next five years, until 2028, provided that structural reforms are implemented and opportunities ...
12/18/2024Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board
... relationships, and driving regional growth for the organization." The BACEE is a non-profit association that works to facilitate the stability and sustainable development of the financial sector in Central, Eastern, and Southeastern Europe, the Caucasus, and Central Asia. It supports the transfer of financial know-how, products, and solutions to regional banks. Converse Bank is a rapidly growing universal bank in Armenia, serving individuals, businesses, and institutions with a comprehensive ...
12/17/2024Armenia and UAE to strengthen trade, tourism, and tech ties
... holding reciprocal visits and forums involving business circles was emphasized. Mirzoyan and Gargash exchanged views on regional issues. The head of Armenia's Foreign Ministry presented Armenia's vision for establishing stability and peace in the South Caucasus, including the opportunities created by the opening of regional communications. The interlocutors also discussed the latest developments in the Middle East. The head of Armenia's Foreign Ministry congratulated the UAE presidential adviser on ...
12/17/2024Armenia recommended for Christmas getaway by Express
... tourists, so now is the best time to visit. Armenia is known for its rich history, culture, and natural beauty. It was named one of the top 10 places to visit in the world in 2025 by Lonely Planet”. This landlocked country is situated in the southern Caucasus Mountains (the southeastern region of Europe and Western Asia) and borders Georgia, Azerbaijan, Iran, and Turkey. Armenia offers a variety of impressive sights, from historical monuments to stunning architecture and well-kept gardens, as well ...
12/17/2024New Armenian ambassador to France presents credentials to President Macron
... his turn, the Ambassador reaffirmed the Armenian government's aspiration to expand and develop relations with friendly France, which have transformed into strategic partnership. The two officials also exchanged views on the developments in the South Caucasus and the ongoing efforts of the Armenian government towards the establishment of lasting and just peace in the region.-0-
12/14/2024Rubinyan: Russia leaving South Caucasus on its own
The authorities of Armenia do not seek to expel Russia from the South Caucasus; Russia is leaving the region on its own, said Ruben Rubinyan, Deputy speaker of the National Assembly. YEREVAN, December 12. /ARKA/. The authorities of Armenia do not seek to expel Russia from the South Caucasus; Russia is leaving the ...
12/13/2024EBRD and EU, together with Galt & Taggart and Ameria Management Advisory launch a programme to support the Armenian capital market
... instruments from financial institutions and the government. This is currently under discussion, and I cannot disclose the details yet," said Jrbashyan. EBRD optimistic about program implementation in Armenia "Armenia is the second country in the Caucasus where this program is being implemented. It was first launched in Georgia, where very positive results were observed in the securities market. We hope that the results in Armenia will be equally positive," said Rada Tomova, Associate Director ...
12/11/2024Unblocking communications will restore region's role: Armenian speaker on talks with Azerbaijan
... sustainability and quality of transport infrastructure in our region. It is also important to develop joint mechanisms to facilitate trade and simplify customs procedures," Simonyan said. He emphasized that, due to its geographical location, the South Caucasus can facilitate economic cooperation and trade between Europe and Asia. "Unblocking all trade and transport communications in the South Caucasus will open new opportunities not only for the region's economic development, but also for fostering ...
12/11/2024Armenia and Azerbaijan make progress in peace agreement – Mirzoyan
... Preamble and 15 out of the 17 Articles of the draft Agreement, and if there is enough political will, it can be concluded and signed swiftly. Well, Armenia has continuously proven its readiness to sign the Agreement and close the page of enmity in South Caucasus. We are confident that peace has no alternative as the people in our region has already suffered a lot from bloody conflicts. Against all odds, we are determined to continue our efforts to reach the desired goal. In this regard, the connectivity ...
12/06/2024US Secretary of Defence expresses support for Armenia's aspiration to achieve long-term peace in the region
... Armenia and that relationship between the two nations continues to grow closer. Austin added that the U.S. plans to sustain the momentum in strengthening the relationship. He also emphasized the United States support for peace and stability in the South Caucasus region. Defence Minister Suren Papikyan reaffirmed Armenia's aspiration to achieve long-term peace in the region. In turn, US Defence Minister Lloyd Austin expressed US support for this aspiration.-0-
12/06/2024Armenian Foreign Minister highlights Yerevan's efforts to normalize relations with Baku at a meeting with new head of EU diplomacy
... mission in ensuring stability on the border of Armenia and Azerbaijan was noted. Mirzoyan and Kallas also exchanged views on regional issues. The Armenian minister spoke about the efforts of the Republic of Armenia to establish stable peace in the South Caucasus, including in signing an agreement on normalizing relations with Azerbaijan. The issues of regional economy and increasing interconnectivity through transport communications were also discussed.
12/05/2024Russia is ready for frank and substantive conversation with Yerevan - Deputy Foreign Minister
... within the framework of alliances in the Eurasian space. We are not abandoning our commitments to our allies, including in the politico-military sphere. For many years we have been working together on the formation of security architecture in the South Caucasus,’ he said, TASS reported. According to him, Russia's role in this endeavour has always been and will always be in demand, especially given the dynamic situation in the region and in the world as a whole. 'We are ready for a frank and substantive ...
11/29/2024Mirzoyan and President of Finland discuss key Armenia-EU partnership agenda
... political dialogue. The parties discussed in detail the key components of the ambitious Armenia-EU partnership agenda. Mirzoyan and Stubb exchanged views on regional issues. The Foreign Minister emphasized that establishing stable peace in the South Caucasus and ensuring the safest environment for the citizens of Armenia is one of the key priorities of Armenia's foreign policy. Mirzoyan highlighted that, despite the existing challenges, the Government of Armenia is actively working in this direction....
11/29/2024Armenia to receive €12.9 million from European Commission for nuclear safety enhancement
... developed a roadmap. The Nuclear Safety Regulatory Committee of Armenia has already initiated the drafting of a new law, taking into account the relevant EU directives. About the Armenian NPP The Armenian Nuclear Power Plant, the only one in the South Caucasus region, is located near the city of Metsamor, approximately 30 km west of Yerevan. The plant is one of the main sources of electricity in the country, providing up to 40% of the total generation. Its service life has been extended until 2026,...
11/28/2024EBRD: Armenian authorities to strengthen economic stability
The Armenian authorities need to do more to improve the quality of regulation, strengthen institutional capacity and enhance government effectiveness, said Elisabetta Falcetti, Managing Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). YEREVAN, November 27. /ARKA/. The Armenian authorities need to do more to improve the quality of regulation, strengthen institutional capacity and enhance government effectiveness,...
11/27/2024Open borders and better logistics could positively affect Armenia’s trade prospects– EBRD Managing Director
... Comprehensive and Enhanced Partnership Agreement and to the central Asian markets of the members of the Euroasian economic union. Elisabetta Falchetti, Managing Director of the European Bank for Reconstruction and Development (EBRD) for Turkey and the Caucasus, stated this in an interview with the ARKA news agency. According to her, as a small and landlocked market Armenia has been additionally disadvantaged by geopolitical challenges. ‘’The borders with two of its neighbours are closed, and international ...
11/27/2024EBRD forecasts slower and moderate economic growth for Armenia in the medium term
The European Bank for Reconstruction and Development (EBRD) expects Armenia's GDP growth to moderate in the short term after several years of ultra-high growth, said Elisabetta Falcetti, EBRD Managing Director for Turkey and the Caucasus. YEREVAN, November 27. /ARKA/. The European Bank for Reconstruction and Development (EBRD) expects Armenia's GDP growth to moderate in the short term after several years of ultra-high growth, said Elisabetta Falcetti, EBRD Managing Director ...
11/27/2024EBRD expected to approve Armenia Country Strategy in first quarter of 2025
The European Bank for Reconstruction and Development (EBRD) is keen to maintain the momentum of elevated investments in Armenia in years to come, EBRD Managing Director for Turkey and the Caucasus, Elisabetta Falcetti said in an exclusive interview with the ARKA news agency. YEREVAN, November 26. /ARKA/. The European Bank for Reconstruction and Development (EBRD) is keen to maintain the momentum of elevated investments in Armenia ...
11/26/2024EBRD to announce 44 million euro financing package for refugees in Armenia
A significant financing package of EUR 44million will soon be announced and deployed via several partners banks for the benefit of refugees from Nagorno-Karabakh, EBRD Managing Director for Turkey and the Caucasus, Elisabetta Falcetti s said in an exclusive interview with the ARKA news agency. YEREVAN, November 26. /ARKA/ A significant financing package of EUR 44million will soon be announced and deployed via several partners banks for the benefit ...
11/26/2024Supporting renewable energy development in Armenia is yet another strategic priority for EBRD- Elisabetta Falcetti
Supporting renewable energy development in Armenia is yet another strategic priority for the EBRD, EBRD Managing Director for Turkey and the Caucasus, Elisabetta Falcetti s said in an exclusive interview with the ARKA news agency. YEREVAN, November 26. /ARKA/. Supporting renewable energy development in Armenia is yet another strategic priority for the EBRD, EBRD Managing Director for Turkey ...
11/26/2024IMF forecasts inflation in Armenia at 0.2 percent in 2024 and 3.1 percent in 2025
... (IMF) expects inflation in Armenia to be 0.2% in 2024 and 3.1% in 2025. "Inflation in Armenia will remain within the target range set by the Central Bank," said IMF Resident Representative in Armenia Umang Rawat, presenting the report "Caucasus and Central Asia: Economic Outlook and Political Challenges." He noted that the pressure, which in 2022 and early 2023 was caused by a number of factors, including the influx of labor from Russia and India, as well as the integration of ...
11/26/2024IMF: Armenia's economy to grow by up to 5.5% by 2028
... the potential for annual growth of up to 5.5% over the next five years, provided that structural reforms and opportunities for labor force integration are realized, said Umang Rawat, IMF Resident Representative in Armenia, while presenting the report Caucasus and Central Asia: Economic Outlook and Policy Challenges. YEREVAN, November 26. /ARKA/. Armenia's economy has the potential for annual growth of up to 5.5% over the next five years, provided that structural reforms and opportunities for ...
11/26/2024EBRD has invested record 2.4 billion euros in Armenia - EBRD Managing Director for Turkey and Caucasus (EXCLUSIVE)
In an exclusive interview with the ARKA news agency EBRD Managing Director for Turkey and the Caucasus, Elisabetta Falcetti speaks about the bank's investments and goals in Armenia, as well as its priorities and future programs. YEREVAN, November 26. /ARKA/. In an exclusive interview with the ARKA news agency EBRD Managing Director for ...
11/26/2024Moscow finds BRICS platform attractive for Armenia
... besides Russia, these include Iran, India, China, and the UAE – undoubtedly enhances the attractiveness of this platform for Yerevan. "Azerbaijan and Turkey have also expressed their intention to join it. This allows us to say that the entire South Caucasus feels the pull of BRICS," Kopyrkin said. Earlier, Armenian Prime Minister Nikol Pashinyan stated that Yerevan had no plans to integrate with BRICS. However, he accepted the invitation from Russian President Vladimir Putin and participated ...
11/25/2024Armenian PM clarifies "strategic deal" with Azerbaijan
... and economic ties," Pashinyan said. He expressed confidence that once the process begins, it will develop rapidly and naturally, without artificial influence "Georgia is also related to this in some respects. The three states of the South Caucasus have common benefits and interests and can have them. This is the 'headline' or preface of the strategic deal," Pashinyan said. -0-
11/23/2024Mirzoyan and Baerbock discuss Armenia-EU partnership and prospects of deepening cooperation
... of the partnership is quite ambitious and is based on the experience of cooperation, as well as on the vision of further development. Mirzoyan and Baerbock also exchanged thoughts on regional issues. In the context of ensuring stability in the South Caucasus, the process of settling relations between Armenia and Azerbaijan was discussed. Mirzoyan presented the recent developments in this process, including the work done towards the finalisation of the Armenian-Azerbaijani peace treaty, stressing ...
11/20/2024EBRD supports reconstruction and modernisation of Armenia's customs and logistics facilities
... Development (EBRD) as part of modernisation of Armenia's State Revenue Committee’s (SRC) infrastructure were discussed on Thursday by SRC Chairman Rustam Badasyan and an EBRD delegation, led by newly appointed EBRD Managing Director for Turkey and the Caucasus Elisabet Falchetti. The SRC said in a press release that the parties discussed the construction of customs and logistics centres with respective technical equipment in the town of Sisian in the southern province of Syunik at estimated to cost ...
11/14/2024Under pressure from the West, Yerevan froze its participation in trilateral working group - Zakharova
... Zakharova said at a press briefing on Wednesday, adding that Armenia has also withdrawn from all other trilateral formats. She claimed then that the United States and the European Union "absolutely do not care" about the fate of the South Caucasus. "The United States and the EU tried to assume the role of mediator, but they themselves could not come up with anything. They only copied our proposals, but at the same time distorted their essence, hoping to crush the peace process for ...
11/13/2024Gas supply to Armenia halted after Georgia accident
... temporarily suspended due to emergency recovery work in Georgia, ‘’Gazprom Armenia’’ reports. “From 10:00 on November 13 to 22:00 on November 14, emergency restoration work will be carried out on the Kazakh-Saguramo section (DN 1000) of the North Caucasus-Transcaucasia transit gas pipeline in Georgia, during which natural gas supplies to Armenia will be temporarily suspended,” the statement said. It is also noted that, during this period, uninterrupted and reliable gas supply to the country's ...
11/13/2024Armenia and Hungary discuss expansion of cooperation at first political consultations
... Armenia's partnership with the EU, and in particular, the issues of cooperation with the Hungarian counterparts in that direction. Deputy Minister Paruyr Hovhannisyan also touched upon Armenia's steps towards the establishment of peace in the South Caucasus, the recent discussions in the process of the settlement of the Armenian-Azerbaijani relations, as well as re-presented the ‘Crossroads of Peace’ project elaborated by the Armenian Government. About Armenian-Hungarian relations Armenia ...
11/12/2024Armenia and Sweden discuss economic cooperation opportunities
... observer mission in Armenia as a factor contributing to the maintenance of stability in the current situation. Mirzoyan also noted that Armenia has adopted an agenda aimed at resolving relations with its neighbors and establishing stable peace in the South Caucasus, which, in turn, could create favorable conditions for regional economic development and the effective integration of regional communications into the West-East logistics network. -0-
11/12/2024$9bn investment can help Armenia decarbonise economy and improve energy security - WB report
... resilient infrastructure. Armenia has a strong track record of attracting private capital in the energy sector and can leverage this experience to attract private investment to other sectors” said Ivana Fernandes Duarte, Regional Manager for the South Caucasus, at the International Finance Corporation. The report highlights two main priority areas that can put Armenia on a path to sustainable long-term growth: Decarbonization to reduce emissions and enhance energy security. To meet its 2050 nationally ...
11/08/2024Russia was and remains a friend of Armenia - Armenian ambassador
... nothing good. On the contrary, it will create additional risks of tension and potential escalation of the conflict,’ Lavrov was quoted as saying. ‘We believe it is important to consolidate the peace process in a regional paradigm, among allies - South Caucasus countries and neighbouring partner states, to exclude destructive interference from outside. The aspiration of Washington and Brussels to oust Russia from the Armenian-Azerbaijani normalisation process only increases security threats in the region,...
11/06/2024Armenia and Iran aim at bringing trade turnover to $3bn.
... the two countries has increased 2-3 times and reached $700 million,' he said on Armenian Public Television. Ekhbalizarch noted that President Pezeshkian's government considers cooperation with neighbours as a priority. ‘In this context, the South Caucasus has always been in the spotlight as a political and cultural civilisation and an alternative territory for Iran's access to the Black Sea,’ he said. Armenian Economy Minister Gevorg Papoyan noted in late September that the trade turnover between ...
11/06/2024President of Russia: we are doing everything for normalization of Azerbaijani-Armenian relations
... Vladimir Putin announced today his readiness to continue working towards Armenian-Azerbaijani normalization. "We have done and continue to do everything for the normalization of Azerbaijani-Armenian relations, to ensure lasting peace in the South Caucasus,’ Putin said at a ceremony of accepting credentials from newly appointed ambassadors from 28 countries, including Armenian ambassador Gurgen Arsenyan. He said Russia ill continue to assist in the work on the peace treaty (between Armenia and ...
11/05/2024Armenia does not need particularly powerful new nuclear power plant - Sanosyan
... Sanosyan added that research will be conducted on both the technologies that can be used in the construction of the new plant and the models for financing future work. About the Armenian Nuclear Power Plant The Armenian NPP, the only one in the South Caucasus region, is located near the town of Metsamor, approximately 30 km west of Yerevan. The plant is one of the main sources of electricity in the country, providing up to 40% of the total output. Its service life has been extended until 2026, and ...
11/04/2024West is forcing its mediation services on Armenia and Azerbaijan - Lavrov
... mediation services on Armenia and Azerbaijan. YEREVAN, October 31./ ARKA/. Russian Foreign Minister Sergey Lavrov claimed today that the West is forcing its mediation services on Armenia and Azerbaijan. " The West continues to meddle in the South Caucasus, seeking to influence the Armenian-Azerbaijani peace process ," Lavrov said at the 2nd Minsk International Conference on Eurasian Security. He argued that the aggressive activities of the US and its allies threaten the security of the entire ...
10/31/2024West's call for speedy peace treaty with Azerbaijan is Armenia's foreign policy priority-MP
... a peace treaty should be signed. In his letters to both the President of Azerbaijan and the Prime Minister of Armenia, US President Joe Biden emphasizes this and notes that the US is prepared to make every effort to establish stability in the South Caucasus and ensure the peace treaty is signed swiftly. This is a priority for Armenia's foreign policy — for our international partners in the West, including EU members and the US, to publicly express the necessity of urgently signing a peace treaty....
10/25/2024Biden urges Pashinyan to finalise peace deal with Azerbaijan by end of year
... conflict,” Biden said in his letter to Pashinyan. “A peace agreement that safeguards Armenia’s unity, sovereignty, and territorial integrity would not only provide security and stability for the Armenian people. It would transform the entire South Caucasus region. As you know, finalizing the remaining articles of the peace agreement will require persistence, ingenuity, and compromise. But putting patriotism above politics, you have courageously and consistently chosen the path of peace – and ...
10/23/2024US welcomes Armenia's goal-setting and steps to promote peace and stability
Armenian Prime Minister Nikol Pashinyan received late on Tuesday Special Assistant to the US President, Senior Director for Europe at the National Security Council, Michael Carpenter, and Senior Advisor on Caucasus Negotiations, Louis Bono. YEREVAN, October 23. /ARKA/. Armenian Prime Minister Nikol Pashinyan received late on Tuesday Special Assistant to the US President, Senior Director for Europe at the National Security Council, Michael Carpenter, ...
10/23/2024Armenia interested in achieving lasting peace in the region - Ararat Mirzoyan
... of Armenia. Ararat Mirzoyan and Michael Carpenter exchanged views on issues of regional stability and security. The Foreign Minister of Armenia stressed the efforts made by the Republic of Armenia in the direction of establishing peace in the South Caucasus and touched upon the recent discussions in the normalization process of Armenia-Azerbaijan relations. In this context, Minister Mirzoyan emphasized Armenia's interest in achieving lasting peace in the region. Ararat Mirzoyan added that Armenia’s ...
10/22/2024Turkey is involved in the Armenian-Azerbaijani settlement process and is waiting for the signing of a peace treaty – Simonyan
... Armenian-Azerbaijani peace treaty), Armenia will discuss it and only then give an answer,” Simonyan said at a press briefing in parliament. Earlier, Russian Foreign Minister Sergey Lavrov, following a meeting of the ‘’3+3’’ platform on the South Caucasus, said that Moscow, Ankara and Tehran proposed that Yerevan and Baku use the ‘’3+3’’ platform to complete work on a peace treaty. -0-
10/22/2024Armenia and Azerbaijan offered to complete work on peace treaty at "3+3" platform - Russian FM
... "3+3" platform to complete work on a peace treaty, Russian Foreign Minister Sergey Lavrov said following a meeting of the "3+3" platform (Azerbaijan, Armenia, Georgia - Russia, Turkey, Iran) on the South Caucasus in Istanbul today, TASS reported. YEREVAN, October 18. /ARKA/. Moscow, Ankara and Tehran suggested that Yerevan and Baku use the "3+3" platform to complete work on a peace treaty, Russian Foreign Minister Sergey Lavrov said following ...
10/18/2024World Bank left its forecast for Armenia's economic growth in 2024 unchanged, slightly improving expectations for 2025 and 2026.
... for Europe and Central Asia (ECA Economic Update Fall 2024). In the previous forecast in June, the WB expected that economic growth in Armenia in 2024 would be 5.5%, in 2025 – 4.9%, and in 2026 – 4.5%. The current report notes that the South Caucasus is estimated to grow by 4.6% in 2024, the fastest growth rate among all ECA subregions, an improvement of 1.1 p.p. compared to the June forecast. “In Azerbaijan, growth is likely to be significantly higher than in 2023, due to large public ...
10/18/2024Maragos spoke about four EU programs implemented at Armenian Nuclear Power Plant worth 11 million euros
... operation of Metsamor NPP and the early adoption of a “roadmap” or action plan for replacing it with other alternatived to ensure energy security and sustainable development. The operating Armenian nuclear power plant, the only one in the South Caucasus region, is located near the town of Metsamor, about 30 kilometers west of Yerevan. It accounts for about 40% of the country's electricity generation. The government has already extended the facility's lifespan by ten years until 2026 after a ...
10/18/2024Speakers of National Assemblies of Armenia and Turkey discuss peace process in South Caucasus and Crossroads of Peace’ project
... the sidelines of the 149th Assembly of the Inter-Parliamentary Union, I had a meaningful meeting with the Speaker of the Grand National Assembly of Turkey Numan Kurtulmuş. We discussed a wide range of bilateral issues, the peace process in the South Caucasus and the region as a whole. I also presented the ‘’Crossroads of Peace’’ project of the Armenian government. We agreed to continue our contacts in the future," Simonyan wrote on his FB. As reported by the press service of the Armenian ...
10/15/2024Pashinyan announces his readiness to sign peace treaty with Azerbaijan in October
Speaking at a regular session of the CIS Council of Heads of State in Moscow on Tuesday Armenian PM Nikol Pashinyan said his government is firmly committed to the early establishment of peace in the South Caucasus and bringing the region to the path of stable and predictable development. YEREVAN, October 8. /ARKA/. Speaking at a regular session of the CIS Council of Heads of State in Moscow on Tuesday Armenian PM Nikol Pashinyan said his government ...
10/08/2024Azerbaijan's aggressive rhetoric is unacceptable, says Pashinyan
... Prime Minister Alexander De Croo. The interlocutors referred to issues related to the further development and expansion of Armenia-Belgium cooperation, the Armenian government reported. The sides exchanged views on the security situation in the South Caucasus region. Prime Minister Pashinyan referred to the discussions of the Armenia-Azerbaijan peace treaty and the latest developments. Considering the aggressive rhetoric of Azerbaijan in recent days as unacceptable, the Prime Minister emphasized the ...
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