Armenia’s trade turnover with EEU member states increased by 7.3% in the first eight months of 2024, according to Deputy Minister of Economy Arman Khojoyan. Despite the growth, there is a need to enhance infrastructure to support this trend, leading to the implementation of two state programs. The first program offers subsidies on interest rates for acquiring agricultural facilities and processing equipment, while the second program supports the acquisition of transportation vehicles for shipments.
Khojoyan also highlighted significant investments in road reconstruction, with the Armenian government allocating $150 million for road restoration and an additional $15 million for technical reequipment in 2024. These initiatives aim to improve trade relations within the EEU and stimulate economic growth in Armenia.
Overall, the country’s commitment to enhancing infrastructure and supporting key sectors demonstrates its dedication to fostering economic development and strengthening its position within the EEU.