Armenia aims to enhance its trade volume with China and draw in investments - Papoyan
03.09.2025,
10:20
Armenia is looking to boost its trade turnover with the world's second-largest economy and attract investments from China, as stated by Minister of Economy Gevorg Papoyan in reference to the strategic partnership agreement signed between the two nations last week.
YEREVAN, September 3. /ARКА/. Armenia is looking to boost its trade turnover with the world's second-largest economy and attract investments from China, as stated by Minister of Economy Gevorg Papoyan in reference to the strategic partnership agreement signed between the two nations last week.
According to Papoyan, the strategic partnership document between Armenia and China includes significant provisions related to the economy, trade, and investment. Specifically, the parties plan to improve the current legislation governing trade and investment to facilitate smoother mutual trade and investment flows. He further emphasized that the agreement obligates both parties to enhance cooperation across various sectors, including industry, agriculture, high technology, energy, and more. "I am confident that the established strategic cooperation will create new opportunities for our economy as a whole and for individual members of the private sector, who will not only be able to attract investments from the Chinese economy but also strengthen our trade and economic relations, including the importation of goods from China through simplified procedures," the minister remarked. Papoyan noted that the trade turnover between Armenia and China in 2024 saw a 1.7-fold increase compared to 2023. "Based on the data for 2024, the trade turnover between our nations reached approximately $2.28 billion," he added.
While acknowledging that some changes are anticipated in 2025, he remarked that it is premature to draw conclusions for the year. "We are optimistic that the results will also be remarkable," Papoyan concluded. The joint statement from Yerevan and Beijing regarding the establishment of a strategic partnership highlights that Armenia and China appreciate the consistent growth of bilateral trade in recent years and express their commitment to further enhancing it.
Efforts to enhance trade involve promoting the export of Armenian goods and facilitating their access to the Chinese market, as well as attracting investments from Chinese enterprises to Armenia, which is open to the involvement of Chinese firms in infrastructure initiatives carried out within the country.
The involved parties convey their willingness to address matters related to the enhancement of the legal framework governing trade and economic activities, and they are actively investigating the potential establishment of an institutional mechanism aimed at liberalizing and streamlining trade and investment processes.
As reported by Armstat, during the first half of 2025, the trade turnover between Armenia and China reached $1.2 billion, reflecting a 15% decrease compared to the same timeframe in 2024. Armenian exports to China totaled $288.3 million, marking a decline of 59.6%, while imports nearly hit $646 million, showing an increase of 2.3%.
According to Papoyan, the strategic partnership document between Armenia and China includes significant provisions related to the economy, trade, and investment. Specifically, the parties plan to improve the current legislation governing trade and investment to facilitate smoother mutual trade and investment flows. He further emphasized that the agreement obligates both parties to enhance cooperation across various sectors, including industry, agriculture, high technology, energy, and more. "I am confident that the established strategic cooperation will create new opportunities for our economy as a whole and for individual members of the private sector, who will not only be able to attract investments from the Chinese economy but also strengthen our trade and economic relations, including the importation of goods from China through simplified procedures," the minister remarked. Papoyan noted that the trade turnover between Armenia and China in 2024 saw a 1.7-fold increase compared to 2023. "Based on the data for 2024, the trade turnover between our nations reached approximately $2.28 billion," he added.
While acknowledging that some changes are anticipated in 2025, he remarked that it is premature to draw conclusions for the year. "We are optimistic that the results will also be remarkable," Papoyan concluded. The joint statement from Yerevan and Beijing regarding the establishment of a strategic partnership highlights that Armenia and China appreciate the consistent growth of bilateral trade in recent years and express their commitment to further enhancing it.
Efforts to enhance trade involve promoting the export of Armenian goods and facilitating their access to the Chinese market, as well as attracting investments from Chinese enterprises to Armenia, which is open to the involvement of Chinese firms in infrastructure initiatives carried out within the country.
The involved parties convey their willingness to address matters related to the enhancement of the legal framework governing trade and economic activities, and they are actively investigating the potential establishment of an institutional mechanism aimed at liberalizing and streamlining trade and investment processes.
As reported by Armstat, during the first half of 2025, the trade turnover between Armenia and China reached $1.2 billion, reflecting a 15% decrease compared to the same timeframe in 2024. Armenian exports to China totaled $288.3 million, marking a decline of 59.6%, while imports nearly hit $646 million, showing an increase of 2.3%.
