The Armenian economy is currently incurring losses due to the war in Iran, but if the conflict ends soon, the losses are expected to be minimal, Economy Minister Gevorg Papoyan said.

He made the comments during a parliamentary committee hearing when asked about the potential fallout of the war in Iran.

“Currently, we are assessing these risks. We hope the conflict will be short-term. We also hope that our strategic partners and friendly countries involved in the conflict will resolve it. In that case, in our view, the losses will be minimal. There are already some losses, particularly reflected in the rising prices of certain goods. First, we see some inflationary risks. Second, for the organization of certain production processes, Armenia also imports raw materials, and in that case, we may again face similar inflationary risks,” Papoyan said.

Armenia has a fairly large trade turnover with Iran, including both imports and exports. According to the minister, the current situation will not have a positive impact on the Armenian economy in the long term.

“However, if we follow the statements of political leaders at a high level, there seems to be hope that the conflict will end in the near future. We believe that, in that case, there should not be very significant negative outcomes,” he added.

Papoyan’s comments came after Central Bank Governor Martin Galstyan warned on Tuesday that Armenia’s economy cannot remain unaffected by the ongoing military operations in the region, and that the escalation of the situation could lead to an inflation rate of 1.2–1.7% in Armenia.

The U.S. and Israel launched what they described as a pre-emptive strike against Iran on February 28, claiming that Tehran was developing a nuclear weapon and posed a threat—an allegation Iran has denied. In response, Iran launched counterattacks, firing missiles and drones at Israel, as well as at U.S. assets and other targets across the Middle East.

German Chancellor Friedrich Merz, in a phone call with Azerbaijani President Ilham Aliyev on March 17, welcomed the Armenia-Azerbaijan peace process.

The Chancellor’s office said in a readout that Merz and Aliyev discussed the “war in the Middle East and its impact on the South Caucasus.”

“The Chancellor welcomed the ongoing peace process between Azerbaijan and Armenia and emphasized its importance for regional stability. Both sides highlighted the opportunities to expand bilateral relations, as well as Azerbaijan’s relations with the EU,” the readout said.

Armenian Foreign Minister Ararat Mirzoyan, during his visit to Oman, met with Minister of Agriculture, Fisheries, and Water Resources Dr. Saud bin Hamoud Al-Habsi.

The ministers discussed the development of sectoral cooperation and opportunities to promote trade in both imports and exports, the Armenian Foreign Ministry said in a readout.

Both sides presented their mutual interests and identified areas with the greatest potential for expanding trade turnover.

Addressing economic development and investment-friendly conditions, Minister Mirzoyan emphasized that the peace established between Armenia and Azerbaijan opens up new opportunities for the development of regional ties.

Foreign Minister Mirzoyan and Oman’s Minister of Agriculture, Fisheries, and Water Resources agreed to promote direct contacts between sectoral ministries and agencies, as well as business communities, to ensure the implementation of joint initiatives and mutually beneficial cooperation in specific areas.

Armenian Foreign Minister Ararat Mirzoyan, during his visit to Oman, met in Muscat with Minister of Transport, Communication, and Information Technology Saeed bin Hamoud bin Saeed Al-Mawali.

The Ministry of Foreign Affairs said in a readout that Mirzoyan emphasized that although the main purpose of his visit to Muscat is the official opening of the Armenian resident embassy, it also provides a valuable opportunity to hold sectoral meetings.

The ministers specifically discussed issues related to aviation and transport connectivity, mutually emphasizing their readiness to promote the establishment of a direct Yerevan–Muscat flight.

In the context of Armenia’s vision for regional connectivity, the Armenian Foreign Minister presented the “Crossroads of Peace” initiative, highlighting Armenia’s interest in regional stability and the promotion of dynamic economic partnerships.

The parties also exchanged views on information technology, digitalization, innovative education, and opportunities to share best practices in artificial intelligence.

Minister of Foreign Affairs of the Republic of Armenia Ararat Mirzoyan on March 18 met with the President of the Oman Investment Authority, Abdulsalam bin Mohammed Al Murshidi, the foreign ministry said in a readout.

The parties praised the dynamically developing political dialogue between Armenia and Oman and expressed readiness to develop partnership in various directions, which will also contribute to fostering favorable conditions for investment cooperation.

In this context, the importance of establishing direct contacts between the investment promotion structures of the two countries, “Enterprise Armenia” on the Armenian side, along with chambers of commerce and business circles, was emphasized. The role of the Armenian Resident Embassy in Muscat in identifying specific opportunities was also highlighted.

Minister Mirzoyan presented the reforms implemented by the Government of the Republic of Armenia aimed at continuously improving the investment environment, promoting entrepreneurship, and creating favorable conditions for attracting foreign investment.

The sides also exchanged views on people-to-people contacts, the establishment of direct flights between the capitals of Armenia and Oman, and prospects for developing cooperation in the cultural and tourism sectors.

There were 10,778 active high-tech companies in Armenia in 2025, according to Minister of High-Tech Industry Mkhitar Hayrapetyan.

The number was 8,072 as of December 2024, he said.

He presented the figures during a parliamentary committee hearing on his ministry’s 2025 performance report under the government’s 2021–2026 action plan.

“According to data provided by the State Revenue Committee, in 2025, 10,778 companies operated in the high-tech sector, compared to 8,072 companies registered as of December 2024. In 2025, the sector’s turnover amounted to approximately 1 trillion 207 million AMD, while in 2024 it was around 942 billion AMD,” Hayrapetyan said.

Armenian Ambassador to France Arman Khachatryan delivered a lecture at Sorbonne Nouvelle University in Paris for students from several leading French universities.

The ambassador outlined Armenia’s foreign policy priorities, discussed neighboring countries and regional issues, and highlighted the agreements reached between Armenia and Azerbaijan in Washington on August 8, 2025, as well as Armenia’s efforts to institutionalize peace in the South Caucasus.

According to a press release from the embassy, Ambassador Khachatryan also spoke about the historically friendly relations between Armenia and France and cooperation between the two countries in strategically important areas.

At the end of his lecture, the ambassador answered questions from students.

Armenian Ambassador to Turkmenistan Arsen Avagyan has described the relations between Armenia and Turkmenistan as an example of a stable partnership based on mutual respect.

In an interview with News Central Asia, the Armenian ambassador outlined the vision for a roadmap for bilateral cooperation, encompassing strategic projects ranging from traditional industries and transport to artificial intelligence and high-performance computing.

Describing the current state of Armenia–Turkmenistan relations, Ambassador Avagyan noted that the relationship is characterized by stability, predictability, and mutual respect. It is free from political instability and is built on a strong legal framework as well as mutual understanding on key international issues.

“Armenia and Turkmenistan consistently demonstrate respect for sovereignty, non-interference in internal affairs, and the principle of equality between states. Turkmenistan’s internationally recognized status as a permanently neutral country holds special significance in the bilateral context. Its neutrality does not imply isolation but represents a unique model for participating in international processes, based on balancing interests and promoting peaceful initiatives. In this regard, our approaches to regional stability and peaceful development largely coincide,” Ambassador Avagyan said.

According to the ambassador, political dialogue is maintained regularly, and interactions at the level of the two countries’ leaders, parliamentary bodies, and foreign ministries help foster an atmosphere of trust.

“Trust, in turn, forms the foundation for deepening cooperation in economic and humanitarian spheres,” he noted.

Ambassador Avagyan also pointed out that economic cooperation does not yet fully reflect the potential of the two countries. Nevertheless, he emphasized that the current low trade figures do not indicate weak relations; rather, they reflect structural constraints related to logistics and geography, as well as the need for more coordinated engagement with the business community.

According to the ambassador, there is political will to develop economic ties, which is of fundamental importance.

“The humanitarian aspect of the relationship deserves special attention. Humanitarian and cultural ties help foster goodwill and mutual respect, which are often as important as official diplomacy.

More broadly, Armenia–Turkmenistan relations are currently in a stable and balanced state, with the potential to enter a more dynamic phase of development. We have a mature political foundation and a positive atmosphere, which create favorable conditions for deepening partnerships in trade, transport, energy, innovation, and scientific cooperation,” the ambassador emphasized.

He added that the current state of bilateral relations can be described as stable, focused on constructive engagement, and gradually expanding cooperation.

“The next logical step is to transform political trust into larger-scale economic and technological projects,” the Armenian ambassador concluded.

The Central Bank of Armenia informs “Armenpress” that today, 18 March, USD exchange rate down by 0.07 drams to 377.39 drams. EUR exchange rate up by 1.28 drams to 435.55 drams. Russian Ruble exchange rate down by 0.0613 drams to 4.5256 drams. GBP exchange rate up by 1.15 drams to 504.04 drams.

The Central Bank has set the following prices for precious metals.

Gold price up by 255 drams to 60871 drams. 

Armenia has granted citizenship to 34,576 people forcibly displaced from Nagorno-Karabakh, Interior Minister Arpine Sargsyan said on Tuesday.

Speaking at a conference on addressing the needs of those displaced, Sargsyan said around 1,000 applications were still being processed.

She added that no citizenship applications had been rejected so far.The minister said that more than 5,000 applications submitted in the first two and a half months of this year, compared with about 4,000 in the first half of last year.