According to the press service of the Ministry of Economy of Armenia, the Armenian side was co-chaired by the Minister of Economy Gevorg Papoyan while the UAE side was led by the UAE Minister of State Ahmed Ali Al Sayegh.
During the meeting, Gevorg Papoyan noted that Armenia views the United Arab Emirates as a crucial partner for deepening trade, economic, and investment cooperation between Armenia and the countries of the Persian Gulf region.
The session discussed strengthening trade and economic ties between Armenia and the UAE, as well as expanding cooperation in the fields of trade, energy, high technologies, agriculture, digitalization, healthcare, interregional relations, and other areas.
The parties signed the protocol of the second session of the intergovernmental commission. Additionally, the possibilities for diversifying Armenia's economy were addressed.
The first session of the Armenia-UAE Joint Intergovernmental Commission was held in Yerevan on May 2, 2019.
Earlier, BMG reported that the UAE ranked second among Armenia's foreign trade partners in the first quarter of 2024. Trade turnover with the UAE in January-March increased nearly sevenfold compared to the same period last year, reaching $2.06 billion.
This trade surge is attributed to a sharp rise in Armenian exports to the Emirates. In January-March this year, compared to the same period in 2023, Armenia exported goods worth $2.05 billion to the UAE, while imports did not exceed $12 million.
The share of the UAE in Armenia's foreign trade turnover increased significantly from 6.9% last year to 22.5% in January-February this year.
Economists note that this impressive growth is mainly due to a sharp increase in exports of precious and semi-precious stones from Armenia, primarily gold and jewelry.
