We have quite good exports to EU countries –Minister

Various Armenian companies are actively benefiting from state support through customs duty compensation for exports to European Union countries, Minister of Economy Gevorg Papoyan has said.

“We mainly export molybdenum, aluminum foil, copper ore, ferroalloys, and fiber and fine-fiber clothing to the EU. Exports in each of these categories range from 10 million to 33–34 million euros,” Papoyan noted.

The minister emphasized, however, that these volumes are not yet satisfactory for the state. He said the government is continuously working to improve these figures through various measures.

“The government has decided to compensate customs duties, and many companies are actively taking advantage of this opportunity. As a result, we have achieved quite good export levels to EU countries,” he said.

Speaking about European investments in Armenia, the minister added that as of December 2024, investments from EU countries amounted to 1.6 trillion AMD.