Deputy Foreign Minister of Armenia Robert Abisoghomonyan on Monday participated and delivered a speech at the Trade Over Aid Initiative forum in New York, the Armenian foreign ministry reports.

In his speech, Abisoghomonyan emphasized that Armenia has joined the Trade Over Aid Initiative and is willing to actively participate in its activities, considering it as an innovative approach to international development cooperation, which complements traditional development tools, emphasizing the strengthening of national capacities, attracting investments, economic growth, as well as increasing national responsibility and resilience, which is in line with Armenia's development priorities.

The deputy foreign minister of Armenia also highlighted the active engagement of UNDP within the aforesaid initiative, noting that the organization’s many years of experience and sectoral professional capabilities can make a significant contribution to governance and institutional reforms, human capital development, strengthening connectivity, and ensuring long-term inclusive economic growth.

Also, Robert Abisoghomonyan presented Armenia’s economic diversification policy, noting that it implies expanding access to new markets and transport routes, as well as reducing structural dependence on a limited number of sectors.

At the same time, it was stressed that Armenia is consistently transitioning to a knowledge-based and technological economy, promoting innovation, supporting competitive small and medium-sized enterprises, and investing in the development of human capital. It was noted that the successful implementation of this strategic program requires a peaceful and stable regional environment, predictability of international supply chains, diversification of transport routes, as well as the development of trade facilitation and digital connectivity.

Reflecting on the strategic economic cooperation between Armenia and the US, the deputy foreign minister of Armenia presented the Trump Route for International Peace and Prosperity (TRIPP) regional connectivity project as a project aimed at creating new opportunities for trade, investment and economic cooperation, as well as further strengthening lasting peace and stability in the South Caucasus. The main principles of this project, which are enshrined in the framework agreement on strategic cooperation on TRIPP signed between Armenia and US, were presented.

Robert Abisoghomonyan touched also upon the Firebird AI data center being built in Armenia, emphasizing that it is an important example of strategic cooperation between Armenia and the US in advanced technology. It was noted that this investment project, being implemented with the participation of NVIDIA, Dell Technologies and several other leading American companies, will contribute to the development of artificial intelligence and digital infrastructure, positioning Armenia as a regional technological hub.

Also, the deputy foreign minister of Armenia presented new prospects for cooperation between Armenia and the US in civil nuclear energy, reflecting on the completion of negotiations on the 123 Agreement on cooperation in peaceful uses of nuclear energy, as well as the signing of a framework memorandum on ensuring supply in extraction and processing of key minerals and rare earths.

In his speech, Deputy Foreign Minister of Armenia Robert Abisoghomonyan touched also upon the latest developments in deepening Armenia’s trade integration with the European Union.