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Belarus-Armenia trade up by 2.5 times over past five years

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MINSK, 24 November (BelTA) - Over the past five years, Belarus-Armenia trade has increased by 2.5 times, BelTA learned from the press service of the Forestry Ministry of Belarus.

"In terms of the Belarusian export, Armenia is traditionally among the top 50 major trading partners of Belarus. The trade between the two countries grows annually. In 2016 it was a little more than $32 million; in 2020 it exceeded $82 million.

In January-September 2021 Belarus’ major export items were dairy products, furniture, computers for automatic information processing and medicines. In turn, Belarus imports alcoholic beverages, waste and scrap copper, and other goods from Armenia.

Armenian investments in the Belarusian economic have been increasing too. In H12021, they amounted to $10.6 million (up by 16.4%). There are 46 enterprises with Armenian participation in Belarus, including 11 joint ventures and 35 foreign organizations.

Economic cooperation between the two countries is facilitated by the work of the intergovernmental Belarusian-Armenian commission on trade and economic cooperation. From the Belarusian side, it is headed by Forestry Minister Vitaly Drozhzha.

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