Armenia, Bulgaria discuss expansion of economic relations

ArmInfo.Armenia and Bulgaria have discussed opportunities to expand economic relations and increase mutual trade volumes. This was announced following a meeting between Armenian Minister of Economy Gevorg Papoyan and Bulgarian Ambassador to Armenia Nikola Nikolov.

The Minister noted that Armenia continues to deepen cooperation with  the EU in political, economic, and security spheres and attaches  great importance to the further development of relations with EU  member states. In this context, he emphasized Bulgaria's experience  in European integration. "We are ready to expand practical economic  cooperation with Bulgaria in both bilateral and international  formats," Papoyan said. The Minister also touched upon the priority  directions of the Armenian economy, emphasizing the importance of  export diversification. He pointed out the necessity to improve the  quality of domestic products to ensure their compliance with European  Union requirements.

During the meeting, Gevorg Papoyan also presented the "Crossroads of  Peace" and TRIPP initiatives to his guest, highlighting their  significance for developing regional economic cooperation and  ensuring long- lasting peace.

It should be noted that, according to the RA Statistics Committee,  foreign trade turnover between Armenia and Bulgaria decreased by  21.6% in January-November 2026, amounting to $92.7 million. Exports  also declined by 20% to $62.3 million, while imports declined by  24.8% to $30.4 million.