Armenia’s mutual trade turnover with the UAE amounted to $4.8 billion
In January-October 2024, Armenia’s mutual trade turnover with the UAE amounted to $4.8 billion. This was reported by Secretary of the Security Council Armen Grigoryan on December 17 during a meeting with Anwar Gargash, Diplomatic Advisor to the President of the United Arab Emirates.
The interlocutors discussed the existing partnership relations between Armenia and the UAE, expressing satisfaction with the recent development of bilateral economic ties, as well as enhanced cooperation in various sectors, particularly highlighting trade and tourism.
During the meeting, the parties also exchanged views on the “Crossroads of Peace” project, emphasizing the importance of cooperation between the two countries within the project’s framework.
Armenia-UAE bilateral relations have seen unprecedented growth over the past five years. While trade turnover was $108 million in 2019, it has now increased approximately 45 times.
This growth is primarily driven by Armenia’s re-export of Russian gold and diamonds.