Armenia joins Trade over Aid initiative

PanARMENIAN.Net - On July 13 in New York, Armenian Deputy Foreign Minister Robert Abisoghomonyan participated in and addressed the Trade over Aid forum.

He emphasized that Armenia has joined the Trade over Aid initiative and is ready to actively contribute to its activities, viewing it as an innovative approach to international development cooperation. According to Abisoghomonyan, the initiative complements traditional development tools by emphasizing national capacity-building, investment attraction, economic growth, and stronger national ownership and resilience, in line with Armenia's development priorities.

The deputy foreign minister also highlighted the active involvement of the United Nations Development Programme (UNDP) in the initiative, noting that the organization's extensive experience and sectoral expertise can make a significant contribution to governance and institutional reforms, human capital development, stronger connectivity and sustainable long-term inclusive economic growth.

Abisoghomonyan presented Armenia's economic diversification policy, explaining that it focuses on expanding access to new markets and transport routes while reducing structural dependence on a limited number of sectors. He also stressed that Armenia is consistently transitioning toward a knowledge-based and technology-driven economy by promoting innovation, supporting competitive small and medium-sized enterprises and investing in human capital. He added that successful implementation of this strategy requires a peaceful and stable regional environment, predictable international supply chains, diversified transport routes, and continued progress in trade facilitation and digital connectivity.

Addressing strategic economic cooperation between Armenia and the United States, the deputy foreign minister presented the TRIPP regional connectivity project as an initiative aimed at creating new opportunities for trade, investment and economic cooperation while further strengthening lasting peace and stability in the South Caucasus. He outlined the project's key principles, which are reflected in the strategic cooperation framework agreement on TRIPP signed between Armenia and the United States.

Abisoghomonyan also referred to the Firebird AI data center currently under construction in Armenia, describing it as an important example of strategic cooperation between Armenia and the United States in advanced technologies. He noted that the investment project, implemented with the participation of NVIDIA, Dell Technologies and other leading U.S. companies, will contribute to the development of artificial intelligence and digital infrastructure, positioning Armenia as a regional technology hub.

The deputy foreign minister also presented new prospects for Armenia-U.S. cooperation in civilian nuclear energy, referring to the conclusion of negotiations on the 123 Agreement governing cooperation in the peaceful use of nuclear energy, as well as the signing of a framework memorandum on securing supplies of critical minerals and rare earth resources.

Abisoghomonyan also reviewed recent developments aimed at deepening Armenia's trade integration with the European Union.

Armenian Foreign Minister Ararat Mirzoyan and U.S. Secretary of State Marco Rubio confirmed in Washington a document on joint Armenia-U.S. cooperation under the TRIPP (Trump Route for International Peace and Prosperity) initiative.

The published TRIPP implementation document outlines the operational framework for the initiative. It states that the framework does not create, and is not intended to create, legally binding commitments or obligations for either Armenia or the United States.