Armenia ready for changes in logistics for dialogue with Europe and Asia simultaneously - minister

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YEREVAN, September 11. /ARКА/. Armenia's economy is demonstrating high growth rates, which indicates the country's readiness for the upcoming changes in logistics and economic terms, Economy Minister Gevorg Papoyan said today./pp

Speaking at a panel discussion at YEREVAN DIALOGUE 2024 summit, the minister stressed that Armenia's strategic location allows for an effective dialogue with both Europe and Asia simultaneously./pp

Armenia is located at the crossroads of Europe and Asia and has absorbed the influence of the value systems of both in economic, governance and cultural terms. In this regard, there are unique logistical and economic opportunities, which can be used to create a cooperation platform that will benefit all nations, Papoyan noted./pp

The Minister recalled that in 2022, the Armenian economy grew by 12.6%, in 2023 - by 8.3%, in the first half of 2024 - by 6.5%./pp “Capitalization of the recorded growth is important for further stable economic growth,” Papoyan noted./pp

According to Papoyan, diversification for Armenia is no longer a matter of choice, but a vital necessity in order to be able to withstand future economic challenges and changes./pp “Targeted work is being carried out in this direction. We are developing, in particular, areas with high potential - pharmaceuticals, IT, renewable energy, the latest technologies in the field of tourism and textile industry. Diversification is aimed at developing human capital, improving infrastructure and stimulating foreign direct investment,” Papoyan said./pp

He noted that Armenia should become an attractive country for investment, a regional center and a place for doing business, where not only investments will be protected, but also conditions will be created that will make entrepreneurial activity comfortable./pp “All this is impossible without sustainable peace. And for this purpose, the government is implementing its cornerstone program “Crossroads of Peace, which is based on economic mega-projects - the North-South road corridor or the Gyumri dry port. The joint implementation of these projects can create deep synergy, turning Armenia into a key regional center,” Papoyan concluded.-0-/pp nbsp;/pp nbsp;/p