During his visit to Russia on July 8, Armenia's Minister of Economy Gevorg Papoyan met with the UAE's Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and Deputy Minister of Industry and Advanced Technology Omar Ahmed Suwaina Al Suwaidi.
According to the press service of the Ministry of Economy, the main topics of discussion included prospects for cooperation in agriculture, export promotion, and product quality standardization. Projects in which the UAE could act as a co-investor were also considered.
Minister Papoyan presented the "Dry Port" project in the Shirak region and proposed discussing potential cooperation in this area.
The meeting also touched upon the Armenian government's "Crossroads of Peace" initiative, aimed at creating a new environment of peace and stability in the region, which would benefit Armenia and its neighboring countries.
BMG reminds that in January 2024, the Investment Committee of Armenia gave preliminary approval to the investment project for the construction of the "Dry Port" industrial park in Gyumri. At that time, it was reported that the government intended to invest $37 million in the project. The industrial park is planned to be built in an area adjacent to Shirak Airport, which will border both the airport and the North-South railway and highway.
The "Dry Port" is envisaged as a multifunctional and multimodal hub to serve local and international companies requiring operational procedures for the consolidation of customs processes, which can help reduce their operational costs. According to the planned goals, the industrial park "Dry Port" in Gyumri will contribute 3% to Armenia's GDP.
