On May 14, in Washington D.C., Armenian Minister of Economy Gevorg Papoyan held meetings with senior representatives from the U.S. Department of Commerce and the U.S. Department of Agriculture, according to the press service of the Armenian Ministry of Economy.
During the meeting with Matthew Axelrod, Assistant Secretary for Export Enforcement at the U.S. Department of Commerce’s Bureau of Industry and Security, they discussed issues related to the diversification of Armenia’s economy and the increase of bilateral trade volumes between Armenia and the United States.
The interlocutors also touched on Armenia's inclusion in the "validated end-user" program as a beneficiary country, export restrictions imposed by some American organizations, granting Armenia "market economy" status, and other important issues.
On the same day, Minister Gevorg Papoyan met with Jason Hafemeister, Deputy Under Secretary for Trade and Foreign Agricultural Affairs at the U.S. Department of Agriculture. The meeting focused on steps to enhance Armenia's food security, opportunities to increase agricultural exports from Armenia to the U.S., necessary regulations, and possibilities for technical assistance in the agricultural sector.
As a result of the meetings, agreements were reached to ensure the continued work on all outlined directions.
Earlier, BMG reported that the trade turnover between Armenia and Hungary decreased by 37.8% to $109 million in January-March 2024. Meanwhile, in 2023, trade between the two countries significantly increased, with Armenian-Hungarian trade turnover rising by 45% to $670 million.
