Armenian producers of alcoholic beverages will be able to export their goods to China with a significant reduction in tax burdens—by 55.1%. This was announced by Mariam Manukyan, Chair of the Council for Supporting International Business Relations, during a press conference in Yerevan summarizing the Armenian delegation's participation in the recent "China International Import Expo" held in Shanghai.
This year marks the second visit of the Armenian delegation to China. During their first visit, bilateral memorandums were signed with the authorities of three cities—Beijing, Changchun, and Ningbo—granting Armenian products preferential export conditions in the free economic zones of these regions.
"This will enable our producers to offer more competitive prices and expand their presence in Asian markets," Manukyan emphasized.
The second visit, from November 5 to 10, was centered around participation in the large-scale international exhibition held under the patronage of Chinese President Xi Jinping. The event spanned 368,000 square meters and welcomed representatives from 158 countries. Armenia was represented by two pavilions—national and commercial—featuring products from over 30 companies, primarily in the alcoholic beverages, confectionery, and canned goods sectors.
A key outcome of the visit was the signing of a memorandum with the China-Armenia Center for Friendship and Development, paving the way for new investment cooperation opportunities. "Discussions are currently underway regarding the first trial shipments of Armenian products, with plans to increase volumes after assessing the market," Manukyan noted.
Next year, a reciprocal visit by Chinese entrepreneurs to Armenia is expected. According to Manukyan, this could lead to the introduction of Chinese brands in technology, robotics, and automotive manufacturing to the Armenian market. "Given that China ranks third globally in automobile production, this could create a competitive environment for CIS countries and present new opportunities for the Armenian market," the Council Chair highlighted.
Earlier, BMG reported that China is among Armenia’s top three trading partners. According to the Statistical Committee, in the period from January to September 2024, China ranked third in trade volume with Armenia, following Russia and the UAE, with a total of $2.07 billion. Trade with China increased by 34.7% over the first nine months of 2024.
Armenian exports to China saw a significant rise, growing by 281% to $907 million, while imports decreased by 4.2% to $1.16 billion.
Interestingly, despite the notable increase in trade with China, its share of Armenia's foreign trade dropped from 11.3% last year to 8.7% in January-September this year. This is due to the faster overall growth of Armenia's foreign trade.
