YEREVAN, JULY 2, ARMENPRESS. Armenia’s delegation led by Prime Minister Nikol Pashinyan will depart for Vietnam and Singapore on official visits in early July.

Ahead of the PM’s visit, ARMENPRESS introduces the history of Armenia-Vietnam, Armenia-Singapore diplomatic relations, as well as the latest economic indicators.

Armenia-Vietnam

Armenia and Vietnam established diplomatic relations on July 14, 1992. Starting from 1992 mutual visits at various levels were held between the two countries. During these years Armenia and Vietnam have signed a number of cooperation agreements relating to various sectors, including cultural, scientific-technical, promotion and mutual protection of capital investments, trade and economic, tourism, etc.

Economic indicators

According to the data provided by the Armenian ministry of economy, Armenia’s trade turnover with Vietnam in 2018 comprised 46,95 million USD, which increased by 34,4% compared to the 2017. In 2018 the export from Armenia to Vietnam comprised 0.57 million USD, which increased by 3,6% compared to 2017. In 2018 the import from Vietnam to Armenia was 46,4 million USD: the increase was 33,4% compared to 2017. Armenia’s trade turnover with Vietnam in January-April 2019 comprised 16.98 million USD, which increased by 28,0% compared to January-April 2018. In January-April 2019, the export from Armenia to Vietnam was 0,144 million USD, it increased 5.4 times compared to the same period of 2018. The import from Vietnam to Armenia in the same period comprised 16,8 million USD, which again increased compared to the same period of 2018, by 26,8%.

In 2018, chocolates, tobacco, alcoholic drinks were mainly exported from Armenia to Vietnam. In 2018, coffee, mobile devices, shoes, printing devices, textile production, computers were imported from Vietnam to Armenia.

Armenia-Singapore

Armenia and Singapore established diplomatic ties on July 1, 1992. Mutual visits were held between the two countries at different levels. Both states have signed a number of agreements, relating to the elimination of mutual visa for persons holding diplomatic and service passports, the cooperation in the fields of culture and air communication.

Economic indicators

Armenia’s trade turnover with Singapore in 2018 comprised 2.2 million USD, which declined by 51,1% compared to 2017 (4,5 million USD). In 2018 the export from Armenia to Singapore comprised 0,7 million USD, which again declined by 51,0% compared to 2017 (1,43 million USD). The import from Singapore to Armenia in 2018 comprised 1,53 million USD, which declined by 50,8% compared to the previous year. In January-April, 2019, the trade turnover of Armenia with Singapore comprised 1,06 million USD, which was a decrease of 51,8% compared to January-April, 2018. In January-April, 2019, the export from Armenia to Singapore comprised 0,58 million USD, a decline of 14,7% compared to the same period of 2018. In January-April, 2019, the import from Singapore to Armenia comprised 0,47 million USD, a decline of 68,7% compared to the same period of 2018.

In 2018, unwrought aluminium, precious and non-precious metals, watches, fresh fruits were mainly exported from Armenia to Singapore.

In 2018, oil and oil products, computers, devices, jewelry and other products were imported from Singapore to Armenia.

Reported by Anna Gziryan

Edited and translated by Aneta Harutyunyan