During the discussion of the draft budget for 2024 in the Armenian Parliament on November 3, Minister of Economy Vahan Kerobyan announced that Armenia's trade turnover with EU countries in the first nine months of 2023 amounted to $2.1 billion, which is 40% more than the same indicator last year.

"If we consider the EU as a single market, it is the second largest trade partner of Armenia after Russia. I must say with satisfaction that trade with some leading EU member states is also growing. In particular, trade with France has increased by 53%, with Germany by 40%, with the Netherlands by 44%," Kerobyan noted.

"This year, business forums have been held in Germany, France and other countries. The aim of these events is to diversify Armenia's foreign trade relations," the Minister told the deputies.

Moreover, he added that the volume of mutual trade between Armenia and Russia increased by 50% in January-September 2023, and Armenia's trade turnover within the Eurasian Economic Union (EAEU) increased by 44%.

In connection with the diversification of Armenia's foreign trade, the Minister of Economy announced new foreign economic statistics. According to him, Yerevan's efforts to establish stable trade relations with the EU and other Western and Asian countries are not at the expense of its relations with EAEU partners.