Armenia's government is developing a new trade strategy to diversify the country’s exports, Deputy Economy Minister Rafael Gevorgyan said today.
"We are developing a trade strategy, the cornerstone of which will be export diversification. We believe that no type of products should be dependent on one sales market. There should be significant diversification both in the variety of products and sales markets," Gevorgyan said.
He noted that after elaboration, the draft version of the strategy would be submitted to the government for approval and discussion with representatives of the private sector and the public.
Armenia’s foreign trade turnover in the first 8 months of 2023 amounted to about $12 billion, having surged by 53% from the same time span in 2022, according to the National Statistical Committee (NSC). Armenia's major trade partners are Russia, EU and China, ARKA reports.
