On Friday, May 3, the Minister of Economy of Armenia Gevorg Papoyan met with the Ambassador of the United Kingdom to Armenia John Gallagher to discuss deepening mutual economic cooperation.
According to the Ministry of Economy, the meeting discussed opportunities to increase trade turnover between the two countries, as well as deepening cooperation in various sectors, including the food industry, mining industry, agriculture, and tourism.
The parties also discussed expanding cooperation in stimulating trade and investment, diversifying services and production, as well as organizing international and specialized exhibitions and business forums.
During the meeting, the topic of cooperation with the United Kingdom's Good Governance Fund in implementing reforms in corporate governance was also touched upon.
Minister Papoyan presented the Armenian government's developed project "Crossroads of Peace" to the guests, which could become an important element of both regional and broader economic cooperation.
For January-February 2024, the trade turnover between Armenia and the United Kingdom decreased by 50% to $8.5 million. Meanwhile, in 2023, trade between the countries significantly intensified. Last year, Armenian-British trade increased by 22% to $113 million.
