Today, on April 4th, during parliamentary hearings on the topic "New Perspectives and Challenges of Armenia's Eurointegration," Babken Tunyan, a deputy from the ruling faction "Civil Contract," emphasized the importance of starting European integration from basic aspects.
"For me, European integration begins with the simplest things," he said, noting that the EU market provides an opportunity for diversifying the Armenian economy.
"We talk a lot about export diversification, energy security, and other issues, but European markets are open to our exporters. If our products are not on European shelves today, the problem is primarily with the quality of our products. First, we need to produce goods that meet European market standards, and then think about other aspects," Tunyan said, highlighting the importance of standards.
BMG reminds that the hearings in the National Assembly took place before the meeting of the Prime Minister of Armenia Nikol Pashinyan, the President of the European Commission Ursula von der Leyen, and the US Secretary of State Antony Blinken in Brussels on April 5. It is reported that during the meeting, ways of trilateral cooperation contributing to the development of Armenia will be discussed.
Russia retains leadership in Armenia's foreign trade turnover, exceeding $7.3 billion in 2023. In January of the current year, trade turnover with Russia increased by 93%, amounting to $861 million in monetary terms. TThe UAE took second place in the list of Armenia's foreign trade partners, with trade turnover in January nearly seven times higher compared to the same month last year, reaching $339 million.
China ranks third in terms of trade volume with Armenia, with a result of $199 million. The European Union, which was Armenia's largest trading partner for years, ranked fourth in this list in January 2024 with a volume just above $140 million.
