Armenian Products Enter New Markets Amid Russian Trade Restrictions, Economy Minister Says

YEREVAN — Armenia has expanded its export markets in response to trade restrictions imposed by Russia, while the government has addressed the difficulties faced by domestic agricultural producers, Economy Minister Gevorg Papoyan said on November 6.

Speaking to reporters, Papoyan acknowledged that the trade dispute with Russia remains unresolved but emphasized that the restrictions have encouraged Armenian businesses to explore new opportunities abroad.

“As a result of the restrictions imposed by the Russian Federation, we have discovered new markets for our products,” Papoyan said, identifying the European Union, the Middle East, and Central Asia as key destinations.

According to the minister, expanding Armenia’s export markets has strengthened the competitiveness of its economy.

“That is why diversification is progressing at a fairly strong pace,” he added.

During the briefing, a reporter reminded Papoyan of his earlier statements suggesting that trade-related problems with Russia would be resolved following Armenia’s parliamentary elections. The reporter asked why the restrictions remained in place.

Papoyan responded that the government had successfully addressed the challenges facing agricultural producers. He maintained that agricultural products had not been left unsold and that rural residents had not suffered, nor would they suffer, as a result of the restrictions.

Asked how long the government could continue providing financial assistance to producers from the state budget, Papoyan said Armenia’s fiscal capacity had increased significantly.

He explained that government support programs are designed to improve productivity, increase efficiency, and strengthen the competitiveness of Armenian producers.

The minister reiterated that diversifying export destinations remains an important component of Armenia’s economic development strategy, reducing dependence on individual markets and creating new opportunities for domestic businesses.