During the meeting, officials presented data on the export volumes of agricultural and other products, as well as measures being implemented to diversify export markets. Participants also reviewed the progress of support programs designed to facilitate exports to European Union member states and other countries, along with the tools and mechanisms being introduced to assist exporters.

The discussions additionally focused on ongoing efforts to support farmers and agricultural producers as part of broader initiatives to strengthen Armenia’s export potential.

Prime Minister Pashinyan stressed the importance of maintaining continuous communication with producers in order to improve export-promotion measures, identify existing challenges, and develop effective solutions.

In this context, the prime minister underscored the need for the consistent implementation of policies aimed at diversifying the economy and highlighted the importance of close cooperation between the public and private sectors in advancing these objectives.

The purpose of the event was to deepen and strengthen business relations between Armenian banks and the German Landesbank, creating new opportunities for bilateral cooperation, exchange of experience, and the development of professional ties.

Within the framework of the meeting held in Stuttgart, welcoming remarks were delivered by Daniel Azatyan, Chairman of the Union of Banks of Armenia, who emphasized the importance of deepening institutional cooperation with leading German financial institutions in the context of Armenia’s international financial integration.

During the event, the Armenian side presented a report entitled “Macroeconomic Environment in Armenia,” which addressed Armenia’s economic developments, the current state of the banking system, factors underpinning its stability, and prospects for further development.

The report was followed by presentations by representatives of LBBW, focusing on payment systems, trade finance, asset management, as well as the European banking sector’s vision regarding economic prospects in the region.

Particular importance was also attached to the bilateral meetings and discussions held between Armenian banks and the relevant divisions of LBBW within the framework of the event. During these discussions, the parties had the opportunity to address issues of mutual interest and discuss the further strengthening of their partnership relations.

In his remarks, Ambassador Nersesyan welcomed the launch of the direct route, emphasizing its significance for deepening Armenia–UK relations.

The Ambassador noted that the new connection would not only make travel between the two countries more accessible, but would also contribute to the further development of tourism, business links, educational exchanges, and cultural cooperation.

Ambassador Nersesyan underlined that direct air connectivity plays an important role in strengthening people-to-people contacts, bringing the Armenian and British peoples closer together and creating new opportunities for cooperation across different sectors. He also highlighted the importance of the route for the Armenian community in the United Kingdom, providing a more convenient link with Armenia and helping to maintain close ties with their homeland.

Based in Yerevan, Mr Zakaria will be responsible for the EBRD’s investments and operations in Armenia and will report to Tomas Kairys, Regional Director for the Caucasus.

Mr Zakaria said: “I am delighted to take on this new role and to work with the EBRD’s strong team in Armenia. We will continue to support the growth and competitiveness of the private sector, deepen capital markets and accelerate the green transition. Armenia has significant potential across key sectors, and I look forward to working closely with our partners to unlock new investment opportunities and deliver tangible impact.”

An Italian national, Mr Zakaria joined the EBRD in 2012 in the Istanbul hub as part of the Energy Efficiency and Climate Change banking team, following earlier experience in international consulting focused on project finance, due diligence and the preparation of renewable-energy and energy-efficiency investments.

Over subsequent years, he held a series of progressively senior roles in Istanbul and London, working across eastern Europe, the Caucasus, Central Asia and the southern and eastern Mediterranean, contributing to more than €600 million of green investments. He later led a specialised green-buildings unit, helping to expand green investment in private-sector real estate and supporting major public-sector building-renovation programmes across multiple countries.

Since 2021, Mr Zakaria has served as Head of Montenegro, where he led a period of strong growth. During his tenure, the Bank saw delivery of more than 40 per cent of all EBRD projects and investments in the country since operations began in 2006, alongside progress on key reforms supporting the green transition and private-sector development.

Mr Zakaria brings to his new role extensive experience in infrastructure, energy and private-sector finance, combining country leadership with a strong background in project finance and policy engagement.

The EBRD has been working in Armenia since 1992. To date, the Bank has invested
€3 billion across 245 projects.

Under the initiative, exporters will receive compensation based on the volume of products shipped abroad between June 1 and July 1, 2026. The program is open to legal entities, individual entrepreneurs, and private individuals engaged in export activities.

The compensation rates are set at:

• 770 drams per kilogram of strawberries
• 275 drams per kilogram of tomatoes
• 400 drams per kilogram of peppers
• 37 drams per flower stem

The government has allocated a total of 1.9125 billion drams (about $5.2 million) to support exports under the program, including:

• 550 million drams for tomato exports
• 800 million drams for pepper exports
• 192.5 million drams for strawberry exports
• 370 million drams for flower exports

Officials expect the measure to facilitate the export of more than 4,250 tons of vegetables and strawberries as well as approximately 10 million flowers during June.

The initiative is designed to help Armenian producers access international markets, enhance the competitiveness of domestic agricultural products, and increase export revenues by expanding sales to key destinations in Europe and North America.

According to official data, a total of 825,384 tourists visited Armenia between January and May 2026, representing a 19.3% increase compared to the same period in 2025.

The figures mark another record-breaking result for the country’s tourism sector and reflect growing international interest in Armenia as a travel destination.

According to the Ministry of Economy, the increase is attributed to several factors, including the launch of new direct flights and the implementation of active, targeted marketing campaigns in international markets. These efforts have helped enhance Armenia’s visibility abroad and strengthen its position as an attractive destination for travelers seeking cultural, historical, and nature-based experiences.

The forum is being organized within the framework of the Trump Route for International Peace and Prosperity (TRIPP) initiative, which aims to develop new and efficient trade corridors connecting China and Europe, expand access for Armenian products to European markets, deepen Armenia-Europe economic ties, and explore opportunities for regional infrastructure and railway development.

To support these objectives, a high-level Polish business delegation will visit Armenia. The delegation represents a business platform with a combined capital exceeding $10 billion and includes owners and executives of major companies operating across Europe, the United States, and Asia.

The event will bring together leading representatives from the logistics, artificial intelligence, renewable energy, real estate, healthcare, automotive, finance, construction, information technology, industrial automation, and international trade sectors.

Participants will include business leaders and company executives collaborating with global brands such as Amazon, Volvo Trucks, BMW, Ferrari, Tesla, Microsoft, Shell, Deloitte, Stellantis, Pfizer, Santander, and Toyota.

One of the forum’s key highlights will be the signing of a cooperation agreement between Armenian and Polish business communities aimed at promoting Polish investment in Armenia, strengthening economic ties, and fostering new strategic partnerships.

The event is also expected to attract senior government officials from Armenia, Poland, and Georgia, underscoring its significance as a platform for regional economic cooperation and international business dialogue.

Discussions will focus on major regional infrastructure and industrial projects, including prospects for the reconstruction, modernization, and development of the Nairit industrial zone.

The agenda also includes sector-specific discussions, presentations of investment and business opportunities, and B2B meetings designed to facilitate new partnerships and joint ventures.

Organizers say the Armenia-Poland Business Forum is intended to become a long-term platform for Armenian-Polish economic cooperation, promoting investment, trade, market expansion, and strategic partnerships between businesses in the two countries.

The agency also introduced a ban on the transit of these products through Russia to other member states of the Eurasian Economic Union (EAEU). According to Rosselkhoznadzor, the measure is linked to the absence of mechanisms confirming the delivery of quarantined products to the destination countries. The restrictions will remain in place until a procedure ensuring the safety and traceability of shipments is established.

Rosselkhoznadzor stated that the latest measures “once again confirm that Armenia’s Ministry of Economy faces structural problems and is failing to effectively exercise its authority in overseeing agricultural producers.”

The agency recalled that Armenia dissolved its Ministry of Agriculture in 2019 as part of a government restructuring, transferring its responsibilities to the Ministry of Economy. The ministry currently oversees agricultural policy, agro-processing, livestock production, veterinary services, crop cultivation, pesticide and agrochemical regulation, organic farming, agricultural cooperatives, and fisheries.

The new restrictions follow a series of measures introduced by Russia in recent days. On May 30, Rosselkhoznadzor imposed temporary restrictions on imports of fresh tomatoes, cucumbers, peppers, leafy greens, and strawberries from Armenia.

Beginning June 2, similar restrictions were extended to cherries, sour cherries, apricots, peaches, plums, nectarines, and grapes. The agency also instructed Armenia to suspend veterinary certification for live fish and fish products destined for the Russian market from all Armenian companies except two enterprises that successfully passed Russian inspections.

The restrictions represent a significant escalation in trade limitations affecting Armenian agricultural exports to Russia, one of the country’s largest export markets.

The European Union is allocating €2.2 million to Armenia to support the visa liberalization process. The funding will be directed toward reforms in border management, document security, and the law enforcement sector.

Armenian Interior Minister Arpine Sargsyan emphasized that this is the first program in Armenia specifically designed to support the visa liberalization process. According to her, the initiative represents an important step toward deepening Armenia-EU cooperation, expanding opportunities for Armenian citizens to travel freely and with dignity, and strengthening people-to-people contacts.

The minister also highlighted the importance of deepening cooperation with EU member states, noting that the program is being implemented in partnership with Lithuania.

Sargsyan stated that, under the leadership of the Prime Minister, Armenia aims to establish a visa-free regime with the European Union as quickly as possible, and that the Ministry of Internal Affairs will continue its consistent efforts toward that goal.

Speakers at the event included the Head of the European Union Delegation to Armenia, Ambassador Vassilis Maragos; Lithuania’s Vice Minister of the Interior, Gintaras Aliksandravičius; and Lithuania’s Ambassador Extraordinary and Plenipotentiary to Armenia, Andrius Pulokas.

Senior EU and Lithuanian officials praised Armenia’s progress, noting that reforms implemented within the framework of the visa liberalization dialogue under the coordination of the Ministry of Internal Affairs are already producing visible and tangible results.

Project Team Leader Evelina Gudzinskaite presented the project’s main priorities and planned activities.

The “Support to the Visa Liberalization Dialogue in Armenia in the Areas of Border Management, Document Security and Law Enforcement Reforms” project is funded by the European Union and implemented by the Republic of Lithuania in close cooperation with Armenia’s Ministry of Internal Affairs.

According to Papoyan, the initiative comes as Armenia seeks to diversify export destinations following a series of import restrictions imposed by Russia on various Armenian products.

Speaking to journalists, the minister said Armenian agricultural products are well-positioned to enter European markets, as many already meet the bloc’s stringent quality requirements.

“It is very realistic because our export-oriented fruit and vegetable products have GlobalG.A.P. certification, one of the highest international standards. These are the same products that are sold in European supermarkets,” Papoyan said.

He noted that the main challenge is not product quality but transportation costs. As an example, Papoyan said Armenian strawberries are produced using the same technologies and greenhouse methods as those used in Europe, but logistics expenses are significantly higher.

“A French farmer may transport seedlings 200 kilometers and then deliver the harvested strawberries another 200 kilometers for sale, with total logistics costs of around $500. In our case, we may spend $8,000 to bring the seedlings to Armenia and another $8,000 to transport the strawberries to Europe, while also paying customs duties ranging from 8.8% to 14%,” he explained.

To address the issue, the government plans to subsidize transportation costs for agricultural exporters, enabling them to offer competitive prices in European markets.

“We are going to provide substantial support so that our businesses do not suffer losses,” Papoyan said, adding that compensation amounts have already been calculated for various export categories.

According to the minister, the government may allocate up to $5.5 million in subsidies for flower exports through the end of the year, as well as approximately $3.5 million each for tomato and pepper exports.

Papoyan said Armenian exporters would be able to target markets across the European Union, “from Greece to Germany.”

Commenting on Russia’s recent restrictions on Armenian imports, the minister said his deputy had met with Russian counterparts in Astana and described the atmosphere of the talks as positive.

“Everyone wants to find solutions to these issues,” Papoyan said, expressing confidence that the outstanding problems could be resolved quickly after the parliamentary elections scheduled in Armenia for June 7.

Russia’s Federal Service for Veterinary and Phytosanitary Surveillance, Rosselkhoznadzor, announced that temporary restrictions on imports of cherries, sweet cherries, apricots, plums, peaches, nectarines and grapes from Armenia would take effect on June 2, 2026. The agency cited repeated phytosanitary violations and an increase in non-compliance cases involving Armenian shipments.

Earlier, Russia had also restricted imports of Armenian tomatoes, cucumbers, peppers and strawberries. Imports of flowers, certain fish products, some alcoholic beverages and Jermuk mineral water from Armenia are currently banned from the Russian market.