ARMENIAN–TURKMEN BUSINESS FORUM IN YEREVAN

The Armenian–Turkmen Business Forum held on January 15 at the Union of Manufacturers and Businessmen of Armenia (UMBA) aimed to discuss prospects for economic cooperation between Armenia and Turkmenistan and to promote the development of bilateral interaction. The forum was organized within the framework of a business mission of the Union of Industrialists and Entrepreneurs of Turkmenistan and brought together business representatives from both sides across a wide range of sectors, including agriculture, light industry, logistics, jewelry, pharmaceuticals, tourism, and others.

Welcoming the guests, UMBA Vice President Nerses Karamanyukyan first referred to the areas in which active bilateral trade and economic relations had developed in the past. In particular, during the first years of independence Armenia imported the gas it needed from Turkmenistan, and at that time there was active trade turnover. After the cessation of gas supplies, trade volumes declined, although recent years’ indicators show a growth trend. According to the speaker, there is significant potential for cooperation, and such business forums can serve as a good stimulus for further expansion of bilateral trade and economic ties in many sectors, including energy, jewelry, textiles, tourism, agriculture, construction, and others.

Nerses Karamanyukyan also presented the structure, mission, and areas of activity of the Union of Manufacturers and Businessmen of Armenia.

Expressing gratitude for the warm reception and organization of the forum, Begench Arazov, member of the Council of the Union of Industrialists and Entrepreneurs of Turkmenistan and head of the delegation, introduced their organization, which has more than 30,000 members and covers all sectors of the economy. He spoke about the areas of cooperation of interest to Turkmen businessmen. They propose cooperation in the procurement of Turkmen goods and the export and import of Armenian products, particularly jewelry, alcoholic beverages, Armenian fruit and vegetable preserves into the Turkmen market. Turkmen partners are also interested in establishing cooperation and developing joint projects in the IT and tourism sectors. The head of the delegation expressed confidence that the Yerevan business forum would give new impetus to the deepening of trade and economic relations between the two countries.

Welcoming the participants, Deputy Minister of Economy of the Republic of Armenia Edgar Zakaryan noted that bilateral economic relations today require practical solutions and new cooperation tools. In this regard, according to the Deputy Minister, the current business forum is of particular importance as a platform for implementing concrete cooperation and joint initiatives. Edgar Zakaryan stated that recent indicators testify to a positive dynamic in bilateral cooperation, reflecting a certain specialization in mutual trade while at the same time demonstrating significant potential for diversification of the commodity structure and the development of new areas of cooperation.

Touching upon the economic policy of the Armenian government, the Deputy Minister identified export diversification, both in terms of product structure and geography of supplies, as one of the priorities. “Turkmenistan is of great interest, considering its production, agricultural, and logistics potential, as well as the wide range of goods with stable demand. It has competitive advantages in the production of cotton and textile raw materials, which creates additional opportunities for building cooperative chains, joint production, and cooperation between enterprises of the two countries,” Edgar Zakaryan noted.

Armenia’s investment and trade-industrial environment was presented by Satenik Adamyan, Investment Promotion and External Relations Manager at Enterprise Armenia.

Participants watched a video presenting the economic opportunities of Turkmenistan.

The participants of the business forum also had the opportunity to discuss issues of interest and concrete cooperation opportunities during “Business-to-Business” (B2B) negotiations.

The forum was also attended by the Chargé d’Affaires ad interim of Turkmenistan in Armenia, Guljemil Hemraeva, and officials of the Ministry of Economy and Ministry Foreign Affairs of the RA.