A delegation led by Armenian Economy Minister Gevorg Papoyan will visit Abu Dhabi, UAE, from May 20 to 22, according to the Ministry of Economy's press service.
"The purpose of the visit is to participate in the second meeting of the Joint Commission on Trade, Economic, and Technical Cooperation between the governments of Armenia and the UAE," the statement said.
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.
