Against the background of decreased trade with Germany, the minister of economy Gevorg Papoyan suggested German Companies Invest in Armenia.
On May 27, Armenian Minister of Economy Gevorg Papoyan received a delegation led by Stefan Bleckschmidt, Director of the Thuringia Development Association of Germany (LEG Thüringen).
The meeting, organized with the support of the Eastern Business Committee for German Economy (Ost-Ausschuss), was attended by representatives of German companies.
The Minister emphasized the importance of increasing trade volumes between Armenia and Germany, noting that the full potential should be utilized:
“I am pleased to note the increase in mutual visits of official delegations and business sector representatives in recent times and the active interaction in various economic fields. I can state that the cooperation between the two countries in several areas is already based on high quality, which is a good foundation for further deepening economic cooperation,” the Minister said.
During the meeting, Gevorg Papoyan briefly presented the current state of the Armenian economy, the state policy being implemented in this area, the favorable investment environment created in the country, and the support tools provided to companies.
Possible areas of cooperation and the possibility of holding an Armenian-German business forum were discussed.
The Minister invited German companies to consider the possibility of opening their businesses in Armenia.
BMG reminds that in the first quarter of 2024, trade between Armenia and Germany significantly decreased compared to the same period last year. Over three months, the decrease was 48.5%, with the total trade volume reaching $106.5 million.
