“Major developments ahead”: Pashinyan hails unprecedented economic opportunit

Prime Minister Nikol Pashinyan told business leaders on Monday that Armenia is entering a new phase of economic development, crediting the newly established peace between Armenia and Azerbaijan.

“We expect major developments in the near future, primarily related to the launch of the TRIPP project, which is significant in that it will ultimately allow the Republic of Armenia to fully emerge from its state of blockade. In fact, Armenia has already overcome the blockade to some extent, as you know that rail freight transportation to Armenia through Azerbaijani territory is possible and is being carried out. I would also like to note that exports can be conducted by rail as well, of course via Georgia, until we open the railway with Azerbaijan, primarily within the framework of the TRIPP project. This is very important, and the political agreement is that this railway will never be closed. In other words, it will be a reliable route for both imports and exports,” the Prime Minister said at a meeting with executives of top taxpayer companies.

The Prime Minister noted that since 2018, when he took office, according to real estimates, Armenia’s gross domestic product has grown by 53%, and that the country’s economy has reached a point where business-to-business, state-to-business, state-to-employee, and employee-to-employer relations must now develop in a new way. In this regard, the Prime Minister emphasized the importance of the meeting for discussing such issues and hearing the views of business representatives.

“Once again, I want to thank all of you for the changes that have taken place in our country, because there are sectors and companies whose role in the Republic of Armenia is difficult to overestimate. It is very important that these companies also bring a new mentality, new thinking, and a new culture to Armenia, which is actually the most important capital, opening new areas and opportunities for entering new fields of activity. I believe that today the Republic of Armenia has horizons before it that it has never had in its entire history. Armenia has never experienced such an unprecedented period of opportunities. We need to be able to continuously and consistently make use of this situation. It is clear that the government cannot do this without key players in the economy and the real sector. And beyond simply expressing gratitude today, I also want to draw your attention to this situation—this is essentially my main message,” said Nikol Pashinyan.

The Trump Route for International Peace and Prosperity (TRIPP) is a connectivity project in Armenia, envisaged under the U.S.-brokered Armenian-Azerbaijani joint declaration signed in Washington, D.C. The project is expected to unlock strategic economic opportunities, create long-term benefits by promoting infrastructure investment, and enhance regional connectivity. An Armenian-American joint enterprise is expected to develop the route.