“Ararat Alliance” and “Export Armenia” held a meeting on the topic of impact of sanctions on the economies of Russia and Armenia

 The unifying platform "Ararat Alliance Institute" in cooperation with the "Export Armenia" Association of Armenian Exporters, the "Civic Council" named after Arkady Ter-Tadosyan and the Research Center Alternative organized a discussion on the topic of the possible impact of economic sanctions against Russia on the Armenian economy. The meeting was attended by Mushegh Teryan, a businessman from printing sector representing the Ararat Alliance; Marine Antonyan, a financier, a representative of the Civic Council; Gagik Dorunts, a mining expert; and Doctor of Economics, Professor Armen Chughuryan. Co-founders Ara Marutyan, Zorak Vardazaryan, Haykaz Fanyan, Karen Martirosyan and others from "Export Armenia" were present at the meeting, as well as Alexander Novikov, Advisor of the Embassy of the Russian Federation in Armenia.

"In this situation, this was the first meeting-discussion of "Araratian Alliance” and “Export Armenia". A few days ago, we had the opportunity to meet with the Russian ambassador to discuss the situation in Russia, the impact of sanctions on the economies of Russia and Armenia. Today we have tried to listen to experts, business circles, together with the representatives of our organization to understand what potential problems may arise, and how Armenia can reduce the risks by cooperating with Russia, even to try to diminish the severe consequences to the Russian economy targeted by the Western sanctions. I think that we had a very effective, substantive discussion and recorded concrete facts. The meetings will be continued.”- Professor Tatul Manaseryan, coordinator of the Ararat Alliance, said to Vesti.am at the end of the meeting.

Another meeting is planned with the participation of the successful businessmen and experts of Armenia next week. The organizers will continue this initiative; develop structures, schemes, so that this cooperation grows in specific areas. In particular, it is the establishment of bilateral, multilateral joint ventures. According to Manaseryan, there are already Russian enterprises that have moved to Armenia.

Experience shows that only the Ministry of Economy cannot meet these challenges, public expert support is needed. We must be able to use the opportunity to develop the Armenian economy and engage investments. We must try to preserve at least the part of the capital, even after the sanctions are over," Manaseryan said.

In parallel with this, the participants of the discussion also attached importance to the cooperation in the field of agriculture. Large quantities of herbicides and fertilizers are imported from Russia to Armenia. If these products are affordable for Armenian farmers in Armenia, the final agricultural product will be exported to the Russian market. Embassy Advisor Alexander Novikov promised to discuss this issue.

The "Araratian Alliance" institute assures that the next substantive discussions will not be late.