Armenia sees trade with Azerbaijan as opportunity, not competition, minister says

Armenia’s Minister of Economy, Gevorg Papoyan, has emphasized that Yerevan and Baku need not compete in foreign trade but can instead pursue a complementary approach.

Speaking during discussions on the 2026 state budget project in parliamentary committees, Papoyan noted that a significant portion of Azerbaijan’s exports aligns with Armenia’s import needs, and vice versa, Caliber.Az reports, citing Armenian media.

“In particular, we have shown that a substantial part of Azerbaijan’s exports corresponds to our import requirements, and the reverse is also true. We are not competitors but can trade many goods with one another,” the minister said. He added that he has co-authored a scholarly article on this topic, which is set to be published shortly.

Papoyan also addressed prospects for trade with Türkiye, estimating that annual trade turnover could increase to $750–800 million—more than double the 2024 figure of $336 million. He highlighted that Armenia could import medicines, electrical equipment, and other goods from Türkiye at lower costs, both as finished products and as raw materials for local production. At the same time, Armenia is prepared to supply similar products to the Turkish market.

By Vafa Guliyeva