RA Prime Minister: Armenia and our region are in a phase of transformation, which is linked to the established peace between Armenia and Azerbaijan

ArmInfo. On October 6, RA Prime Minister Nikol Pashinyan participated in the Armenian-British Business Forum, which is being held in Yerevan for the first time.

As reported by the RA government press service, welcoming the forum participants, the Prime Minister emphasized that holding it in Yerevan is logical following the signing of the Memorandum of Understanding on the establishment of a strategic partnership between Armenia and the United Kingdom in May of this year. "After establishing such a partnership, governments face a primary question: how to implement the political will expressed in the adopted document. And the most effective way to solve this problem is to make the political content discussed between governments part of everyday life. "Such forums serve precisely this purpose—to fill the space created by governments with real content," Nikol Pashinyan said.

He noted that people unconstrained by the specific frameworks of public administration or other official duties better perceive opportunities and prospects. In this context, the head of state expressed hope that the ideas expressed during the conference discussions will move to the next stage of development and be translated into concrete agreements.

"Overall, it is clear that Armenia and our region are in a phase of transformation, which is linked to the established peace between Armenia and Azerbaijan and the developments that follow. We are currently working daily to launch the TRIPP project, which will undoubtedly become a cornerstone in changing not only the Republic of Armenia but also the entire economic situation in the region." "This is already the case, because today we are experiencing a certain level of investment activity around Armenia, and it is clear that this project, in turn, will bring new projects, and the investment gravitation of Armenia and our region will strengthen," the Prime Minister said, adding that in the near future, in parallel with the development of the TRIPP project, the opening of the Armenian-Turkish border, as well as the opening of Armenian-Azerbaijani and Armenian-Turkish railway links, is expected.

Nikol Pashinyan also touched upon the issue of creating a railway link between the Persian Gulf and the Black Sea, the implementation of the North-South highway project, and the opening of roads parallel to the railway in the same direction from East to West. "I am describing what the RA government has approved within the framework of the 'Crossroads of the World' project. In parallel with all these communications, of course, the possibilities of constructing an oil pipeline, a gas pipeline, and power lines are already being considered and discussed. "We are also conducting specific discussions on these issues," Nikol Pashinyan emphasized.

According to the head of state, all this means that Armenia and the United Kingdom are moving closer together in terms of transportation, and now is the time to discuss the opportunities for this. Nikol Pashinyan noted that any economic development entails new economic development. "The most successful countries are those whose economic growth is continuous and stable. Over the past five years, we planned to ensure an average of 7% economic growth in Armenia, but in fact, we have achieved an average of 7.9%. That is, every 7.9% already exceeds the 7.9% of the previous year. Overall, by 2025, Armenia's gross domestic product will have grown by approximately 53% compared to 2018, including taking into account the general economic downturn caused by COVID-19. Over the next five years, we plan to ensure an average of 6% annual economic growth. And we also have a number of strategic directions. I mentioned one of these strategic directions—opening regional communications—but I also want to draw attention to the development of renewable energy in Armenia. Specifically, over the next five years, we plan not only to maintain the pace of renewable energy development but also to make it more institutionally reliable for our economy and state," the head of state said.

The Prime Minister noted that "Crossroads of the World" is the strategic vision of the Armenian government. Nikol Pashinyan emphasized the importance of increasing tourism to Armenia in the context of growing business interest in Armenia. According to Nikol Pashinyan, significant achievements in artificial intelligence have also been recorded over the past year.

Summarizing his speech, the Prime Minister expressed hope that the conference's results will soon be reflected in the economic sphere and create opportunities to celebrate these successes.

The Armenian-British business forum was organized by the Oxford Alumni Business Club of Armenia (OABCA) in partnership with the Armenian government, Enterprise Armenia, and the British-Armenian Chamber of Commerce (BACC). The forum brought together approximately 2,000 participants: representatives of the Armenian government, the Central Bank, international financial and development institutions, the British diplomatic mission, leading companies, and educational and scientific institutions. The forum discussed access to capital, attracting investment, and opportunities to enter new markets. Particular attention was paid to practical mechanisms for investment and international financing in Armenia.