Armenia does not intend to abandon the Russian market — head of the Ministry of Economy

Armenia does not intend to abandon the Russian market and is actively working with its Russian colleagues, Minister of Economy Gevorg Papoyan stated.

According to him, the Armenian side does not dismiss the problems pointed out by its Russian colleagues, but on the contrary, is trying to resolve them.

"Regarding all those problems raised by our Russian colleagues, we do not say that we disagree and will do nothing, but rather we are looking for solutions to the issues raised," the head of the Ministry of Economy said.

At the same time, he noted that one cannot remain tied to a single market and that export opportunities need to be diversified. In the minister's view, Yerevan has succeeded in this. In this context, he stated, in particular, that the EU has temporarily lifted duties on 80% of imported Armenian goods.

The minister said that Armenia has almost reached last year's export volumes. Thus, in January-July 2026, the volume of agro-industrial exports (excluding fruits and vegetables) amounted to $849 million, which is only 1.9% less than in January-July 2025 ($865 million). According to him, the exports included cognac, juices, water, flowers, wine, canned goods, dried fruits, and dairy products.

"This year we exported 11,000 tons of apricots, last year it was more, but this year the harvest was several times smaller. If there had been 20,000 tons, we would have exported that much. And the reason for the reduction in the harvest is climatic conditions, not difficulties with selling it," he said.

The minister also stated that, despite everything, the economy recorded growth of 6%, while economic activity in the first half of the year stood at 7.6-7.7%.

Source: Sputnik Armenia