On November 20, Armenia’s Deputy Ministers of Economy held a meeting with the leadership of the Armenian branch of China Jiangsu International Economic and Technical Cooperation Group LTD, one of China's leading state-owned companies in construction and international trade.
According to the press service of Armenia’s Ministry of Economy, the parties discussed prospects for expanding cooperation in the mining and construction sectors.
During the meeting, Deputy Ministers Narek Avakimyan and Edgar Zakaryan reviewed the progress of an ongoing project with the head of China Jiangsu’s Armenian branch, Song Qingbo. The project involves the construction of a broadcasting hall for Armenia’s Public Television, financed with support from China.
“China Jiangsu, ranked among the top international contractors, specializes in construction, international trade, urban planning, and investments,” the statement noted. Deputy Minister Narek Avakimyan presented Armenia's favorable business environment and ongoing large-scale investment programs, highlighting the potential for attracting Chinese companies to various economic projects.
The meeting also addressed Armenia's participation in the 7th China International Import Expo (CIIE) in Shanghai, where Armenia was represented with a unified pavilion aimed at promoting the development of small and medium-sized enterprises. Both sides expressed their readiness to continue joint efforts to strengthen bilateral relations.
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.
