Armenia actively diversifies its foreign trade relations to reduce dependence on Russia

Armenia actively diversifies its foreign trade relations to reduce dependence on Russia
# 03 November 2023 15:13 (UTC +04:00)

Armenia is actively diversifying its foreign trade relations to reduce dependence on Russia, the Minister of Economy of Armenia Vahan Kerobyan said during budget discussion in Parliament, APA reports citing Sputnik Armenia, APA reports.

The Minister Vahan Kerobyan stated that trade with the leading European Union member countries is increasing..

According to him, the trade turnover with France increased by 53%, with Germany by 40%, and with the Netherlands by 44%.

In general, the trade turnover with the EU increased by 40% in 9 months and reached USD 2.1 billion. Thus, the EU became the second largest trade partner of Armenia after Russia.

It was noted that during the reporting period, Armenia's trade turnover with the Russian Federation increased by 50%, and with the Eurasian Economic Union by 44%.

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