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.
