Armenia sees hundreds of millions in trade potential with Azerbaijan

Economy Minister of Armenia Gevorg Papoyan said that Baku and Yerevan have exchanged lists of goods intended for export, pointing to ongoing discussions on expanding bilateral trade.

According to Caliber.Az, Armenian media reported that consultations between the sides are continuing.

“Discussions are underway: Azerbaijan has provided us with a list of numerous goods it can export to Armenia, and we, in turn, have also sent them our own list. Trade will take place. I am confident that there is potential for bilateral trade amounting to hundreds of millions of dollars,” the Armenian minister said.

In November last year, a shipment of Russian wheat reached Armenia via Azerbaijan and Georgia, followed by a consignment of wheat from Kazakhstan transported through Russia, Azerbaijan and Georgia. On February 1, authorities in Baku also announced the dispatch of another train carrying Russian grain to Armenia through Azerbaijani territory.

Fuel deliveries later became a key component of renewed trade links. The first shipment took place on December 18–19, 2025, when approximately 1,220 tons of AI-95 gasoline were transported in 22 railcars from Bilajari station in Baku. A second batch followed on January 8–9, totalling 2,698 tons in 48 railcars, including 1,742 tons of AI-95 gasoline and 956 tons of diesel fuel, delivered via transit through Georgian territory.

Just days later, on January 11, another consignment — 979 tons of AI-92 gasoline — were sent to Armenia through Georgia.

These deliveries form part of broader efforts to normalise trade links after Ilham Aliyev announced in October 2025 the lifting of transit restrictions to Armenia, which had remained in place during Armenia’s occupation of Azerbaijani territories. Since that decision, both direct and transit railway shipments have been carried out along the corridor, signalling expanding economic cooperation across the region.

By Tamilla Hasanova