Round-table with the Armenian Prime Minister

On Friday 12 November 2010, Prime Minister of Armenia, Mr Tigran Sargasyan, visited EuFoA’s Brussels office. During the course of this visit, the Prime Minister, as well as the Armenian Ambassador to the EU and Belgium Mr Avet Adonts and the Armenian Minister of Economy, Mr Nerses Yerityan, participated in a roundtable discussion. Representatives from think tanks, diplomatic circles, NGOs and Media also participated in the event. The discussion was varied, covering a number of topics concerning Armenian domestic and foreign affairs.

In 2009, Armenia was severely hit by the global financial crisis. The crisis in Armenia, unlike in other countries, did not originate in the banking system, but was instead caused by ineffective public administration and the lack of diversification of the domestic economy. The construction sector, which used to be the main factor of Armenian economic growth, saw a huge decline in private investment. Today the economic outlook appears more promising and Armenia’s recovery has progressed faster than expected. Private investment in 2010 increased by 20% compared to 2009.

EU-Armenia relations rest on a sound institutional foundation and are highly valued in Armenia. In particular, the EU’s ceaseless support for the implementation of the Armenian reform agenda has helped the country fill the gap between its aspirations and capabilities.