Marketing in Armenia Market
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About 5.55% of Armenian goods are imported from Iran. Russia and China are still Armenia's main partners in the import trade. The chart below is based on the World Trade Organization (WTO) statistics for 2018, which show Armenia's main partners in the import of goods.
What are goods imported to Armenia?
One of the most important imported items of Armenia since the beginning has been fuel and various types of energy. Because this country does not have much oil and energy resources. Most fuel and oil products are imported to Armenia from Russia. In addition to oil and other fuels, other products such as electrical machinery and equipment, medicine, tobacco, plastics are at the top of Armenia's import needs.
The following is a list of Armenia's most important imports in 2018, which is in line with the latest World Trade Organization statistics.
- Types of fossil fuels and oils
- Electrical and electronic equipment
- Plastics and polymer products
- Furniture, prefabricated buildings and neon lights
- Boilers, industrial boilers and related equipment
- Mineral and precious stones and precious metals
- Pharmaceutical products
- Tobacco, and cigarettes
- Iron and steel
In addition to the above products, various other products are imported by this country that traders and exporters can focus on their exports. These products include medical equipment, clothing and textiles, aluminum, paper and some other products.
Relations between the European Union and the Republic of Armenia are based on the Comprehensive and Enhanced Partnership Agreement (CEPA), a modern, ambitious Agreement, which was signed on 24 November 2017 and entered into full force on 1 March 2021. This Agreement provides a framework for Armenia and the EU to work together to advance mutual interests in the areas of strengthening democracy, the rule of law and human rights, creating more jobs and business opportunities, fairer rules, more safety and security, a cleaner environment, and better education and opportunities for research.
The EU is a key reform partner in Armenia. The EU has stepped up its support and almost doubled its annual allocation in grants to €65 million annually in 2019 and 2020. Its current substantial portfolio focuses on supporting the government’s reform agenda, private sector development, human capital, and development of focal regions. In addition, since 2014, more than €1 billion in the form of blended loans and grants has been invested in the energy, agriculture and transport sectors.