YEREVAN — The strategic partnership established between Armenia and China will open new opportunities both for Armenia’s economy as a whole and for individual representatives of the private sector.
This view was expressed by Armenia’s Minister of Economy, Gevorg Papoyan. The Minister stressed that a significant section of the strategic partnership agreement between the Republic of Armenia and the People’s Republic of China relates to the economy, trade, and investments, with specific provisions and a roadmap included.
“In particular, the two countries intend to further improve existing legislation in the areas of trade and investment so that trade turnover and investment flows proceed more smoothly. In this regard, we naturally expect to increase trade with the world’s second-largest economy and, of course, attract Chinese investments, which are among the most attractive globally,” Papoyan stated, adding that China’s economy has excellent potential in this respect.
According to the Minister, the agreement also records the commitment of both sides to deepen cooperation in several fields, particularly industry, agriculture, high-tech production, energy, and other sectors.
“In this context, I believe the strategic partnership will create new opportunities not only for our economy in general but also for representatives of our private sector. They will not only be able to attract investments from China but also expand our trade and economic relations. Specifically, they can both export goods to China and import goods from China under simplified, more streamlined trade procedures,” the Minister said.
In 2024, Armenia-China trade turnover increased 1.7 times compared to 2023. Papoyan described this as a significant indicator, noting that considerable progress was recorded in both exports and imports. The trade turnover between Armenia and China in 2024 amounted to about 2.28 billion USD. The Minister added that this year’s figures are also expected to be impressive.
During Prime Minister Nikol Pashinyan’s visit to Tianjin, China, and his meeting with Chinese President Xi Jinping, the two sides announced the establishment of a strategic partnership between Armenia and China.
