China is Armenia's second largest Asian trade partner, and these relations are developing. In 2022, the trade between Armenia and China reached $1.43 billion, and in the first six months of 2023, the indicator was $800 million, increasing by 45% year-on-year. Chinese ambassador to Armenia Fan Yong told this to reporters Thursday.
According to him, Chinese investments in Armenia amount to about $50 million, and in Armenia—$15 million, indicating the potential for growth of these indicators.
He noted that Armenia and China are developing their cooperation in various domains, including rubber production, road construction, photovoltaic plants, reservoirs, etc.
The Chinese diplomat added that work is underway to launch direct flights between China and Armenia.
In his view, the implementation of the North-South Road Corridor project is progressing successfully.
Ambassador Fan expressed satisfaction that Chinese language teaching is actively developing in Armenia.
He reminded that Armenia was one of the first countries to respond to joining the Belt and Road Initiative and thereby contributed to its development. The implementation of this initiative has shown promising results in recent years, the ambassador noted.
The Chinese diplomat added that a summit dedicated to this initiative will be held this year.
He emphasized that a consensus has been formed on the matter of its implementation, and now work is being carried out to harmonize national characteristics.
Adviser on trade and economic affairs of the Chinese embassy in Yerevan, Tsai Chung, for his part, informed that last year Armenia exported 70 thousand bottles of brandy, worth $1.5 million, to China.
According to him, this is the most impressive indicator during the entire period of establishment of diplomatic relations between the two countries.
He added that there is a major demand for Armenia’s honey in China, and called on the Armenian side to increase the production and export of this product, as well as other quality products.