Armenia, Germany starting financial collaboration

ArmInfo. Armenia and Germany have signed a financial cooperation agreement  between their respective governments. As reported by the press service of the  Ministry of Economy, the agreement was signed by the head of the  economic department, Gevorg Papoyan, on behalf of  Armenia, and  German Ambassador to Armenia Claudia Busch, on behalf of Germany. 

According to the source, the signing of the document took place at  the residence of the President of Armenia during the visit of German  President Frank-Walter Steinmeier.  The Ministry of Economy did not  provide further details on the specific the areas and nature of  cooperation.  It should be noted that according to the RA Statistical  Committee, the foreign trade turnover between Armenia and Germany  decreased by 23.7% in 2024, totaling $486.1 million. Additionally,  exports decreased by 27.3% to $63.6 million, while imports declined  by 23.2%  to $422.5 million.