On May 13, Armenian Minister of Economy Gevorg Papoyan met with U.S. Deputy Secretary of State for Energy Resources Geoffrey Pyatt in Washington. The meeting focused on key issues related to Armenia's economic and energy security.
According to the press service of the Ministry of Economy of Armenia, the "Crossroad of Peace" project, developed by the Republic of Armenia, was presented during the meeting. Regional developments expected as a result of the project's implementation, the current economic situation in the country, and the measures Armenia is taking to achieve market economy status were discussed.
On the same day, Minister Gevorg Papoyan also met with U.S. Deputy Trade Representative for Europe and the Middle East Brian Trike. During this meeting, the importance of developing Armenian-American economic relations was emphasized.
Discussions included the implementation of USAID programs in Armenia, support for the development of an export diversification program, and the need for consistent implementation of the agreements reached during the recent U.S.-Armenia Trade and Investment Working Group meeting.
Both sides noted the importance of ensuring the continuity of work in all planned areas, which will contribute to strengthening cooperation and developing economic ties between Armenia and the United States.
Earlier, BMG reported that from January to March 2024, trade turnover between Armenia and Hungary decreased by 37.8% to $109 million. Meanwhile, trade between the two countries significantly increased in 2023. Last year, Armenian-Hungarian trade turnover grew by 45% to $670 million.
