Minister of Economy of the Republic of Armenia, Gevorg Papoyan, met with the new Ambassador of the United Arab Emirates to Armenia, Nariman Muhammad Sharif Al Mulla.
According to the press service of the Ministry of Economy of Armenia, the parties discussed prospects for increasing trade volumes between the two countries and opportunities for cooperation between business communities. The active investment of Emirati companies in the Armenian economy, especially in recent years, was highly appreciated.
The possibilities of organizing international and specialized exhibitions and business forums were also discussed, which could create new platforms for cooperation.
Both sides highlighted the importance of the joint intergovernmental commission between the Republic of Armenia and the United Arab Emirates for the development of bilateral economic relations.
The Minister also presented the guests with the "Crossroad of Peace" project of the Armenian government and its principles.
BMG reminds that in 2023, goods worth $1.6 billion were exported from Armenia to the UAE. The main products were unprocessed gold worth $1.3 billion, diamonds worth $300 million, and platinum in various forms (unprocessed, semi-processed, or in powder form) worth $32 million.
Last year, the UAE became a significant source of foreign direct investment in the Armenian economy, surpassing Russia in this regard for the first time in history. From January to September 2023, the UAE made direct investments in Armenia amounting to 101.8 billion drams (over $250 million).
