In his speech at the Eurasian Congress, RA Prime Minister Nikol Pashinyan stated that Armenia could become a unique regional electricity hub.
“Economic growth and activity indicators in the Republic of Armenia create a good basis for forming highly optimistic expectations for the current year and the near future. In 2022, the economy of Armenia registered impressive economic growth. The GDP growth compared to 2021 was 12.6 percent. This is the highest indicator since 2008. The growth of industry, trade, including commercial services and construction sectors, also contributed to it,” he said.
Nikol Pashinyan considered logistics security to be one of the most critical factors in developing the national economies of EAEU countries. According to him, strengthening the potential of national economies is also due to a competent approach to ensuring energy security.
“Based on the current geopolitical realities, a new approach to the energy agenda is necessary. Currently, active work is being done in Armenia toward the gradual liberalization of the electricity market, which creates new opportunities and favorable conditions for interstate electricity trade.
We develop production capacities, carry out large-scale reconstruction of substations and transmission lines, and construct of Armenia-Iran and Armenia-Georgia high-voltage lines, which contribute to the formation of the “North-South” electricity path and create new opportunities for electricity export, import, transit, or seasonal exchange for addition. Thus, Armenia can become a unique regional hub of electricity.”
