Friday, February 23 2024 12:52
Alexandr Avanesov

Armenia ideally positioned to offer India alternative sea trade  route, especially with Europe - Armenian minister 

Armenia ideally positioned to offer India alternative sea trade  route, especially with Europe - Armenian minister 

ArmInfo. Armenia is ideally positioned to offer India an alternative sea trade route, especially  with Europe, Narek Mkrtchyan, the country's minister for Labor and Social Affairs, said on the sidelines of the ninth edition of the Raisina Dialogue in the national capital on Wednesday.

"The Armenian government is committed to forming partnerships in  major regional and global projects like the North-South Transport  Corridor (INSTC), the Gulf Black Sea transport, and the transit  corridor and the Chabahar port development, which is a collaborative  effort between India and Iran," the minister told ANI on the  sidelines of the event.

The Raisina Dialogue is India's flagship conference on geopolitics  and geoeconomics, committed to addressing the most challenging issues  facing the global community.

Further expanding on the country's offer of an alternative route for  commerce, the Armenian minister said it was 'significant' at a time  when many nations, including India, are looking for alternative sea  routes to trade with Europe and the West, given the spate of attacks  on commercial vessels passing through the Red Sea.

The Houthi attacks on commercial vessels on Red Sea trade routes  started in mid-November, with the group linking the disruptions to  its demand for an end to Israel's offensive in Gaza and the delivery  of aid to Palestinians 'under siege'.

"Armenia holds a strategic position to propose to India an  alternative sea trade route, particularly with Europe," Mkrtchyan  said.

He also stressed Armenia's commitment to partnerships in significant  regional and global projects, including the North-South Transport  Corridor (INSTC), the Gulf Black Sea transport, the transit corridor,  and the collaborative development of the Chabahar port with India and  Iran.

This proposal is significant amid the growing interest in alternative  sea routes due to security concerns in traditional routes like those  on the Red Sea.

The minister also pitched a collaboration with India on Artificial  Intelligence (AI) through a global coalition where ministers of the  two countries can consult and trigger investments for AI.

"There is a potential to collaborate on AI for social good to address  sectors like healthcare, agriculture, and environmental conservation  planning. We could also potentially establish a global AI innovation  platform to facilitate the sharing of Solutions and Research," he  added.

Bilateral dialogue between India and Armenia is conducted through the  mechanisms of Foreign Office Consultations and Inter-Governmental  Commission on trade, economic, scientific and technological, Cultural  and Educational Cooperation, and periodic high-level interactions,  the Ministry of External Affairs stated in an official release  earlier.

The ninth edition of Raisina Dialogue began on Wednesday and is  scheduled to conclude on February 23. The event is organised by the  Ministry of External Affairs in collaboration with the Observer  Research Foundation (ORF), a think tank.

Greek Prime Minister Kyriakos Mitsotakis is the chief guest and  keynote speaker at the 9th Raisina Dialogue.

Ministers, National Security Advisors, senior officials and  representatives of industry, technology, finance and other sectors  from more than 100 nations are participating in the event this year.  

POST A COMMENT
Input digits     


News
IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%
Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers 
EEC Board decided to liberalize certain categories of precious  metals` import/exportEEC Board decided to liberalize certain categories of precious  metals` import/export
Earthquakes, drought could affect Armenia`s debt sustainability -  EFSDEarthquakes, drought could affect Armenia`s debt sustainability -  EFSD
Converse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 millionConverse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 million
USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia 
Expert: Armenia has the potential to get high-quality and abundant  harvest of apricots this yearExpert: Armenia has the potential to get high-quality and abundant  harvest of apricots this year
EFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and TajikistanEFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and Tajikistan
Armenia is considering appointing attache in Silicon ValleyArmenia is considering appointing attache in Silicon Valley
Astana proposes joint investment programmes in Yerevan Astana proposes joint investment programmes in Yerevan 
Armenia, Kazakhstan have unrealized economic potential - premier Armenia, Kazakhstan have unrealized economic potential - premier 
Armenia, EU discuss expansion of economic cooperation Armenia, EU discuss expansion of economic cooperation 
Transavia airline starts operating route Lyon-Yerevan-LyonTransavia airline starts operating route Lyon-Yerevan-Lyon
EAEU and its economic principles should not be mixed with political  ambitions - Nikol PashinyanEAEU and its economic principles should not be mixed with political  ambitions - Nikol Pashinyan
Armenia, Australia to strengthen cooperation in high-tech field Armenia, Australia to strengthen cooperation in high-tech field 
Leasing EXPO -2024 officially opened in YerevanLeasing EXPO -2024 officially opened in Yerevan
Araratbank to double leasing portfolio by end of 2024Araratbank to double leasing portfolio by end of 2024
Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis 
Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s productsEconomy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products
Info about IT specialists leaving Armenia en masse has nothing to do  with reality - premierInfo about IT specialists leaving Armenia en masse has nothing to do  with reality - premier
WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
Government is ready to share risks with agricultural insurersGovernment is ready to share risks with agricultural insurers
EIB to issue loan under energy efficiency programme to Armenia EIB to issue loan under energy efficiency programme to Armenia 
Deadline for filing personal income declarations in Armenia may be  extendedDeadline for filing personal income declarations in Armenia may be  extended
ADB intends to expand its areas of activity in ArmeniaADB intends to expand its areas of activity in Armenia
ADB forecasts 5.7% economic growth for Armenia in 2024ADB forecasts 5.7% economic growth for Armenia in 2024
Conversebank to present its Converse Leasing product at annual  Leasing ExpoConversebank to present its Converse Leasing product at annual  Leasing Expo
By rebranding, INGO Armenia IC begins new stage of developmentBy rebranding, INGO Armenia IC begins new stage of development
Some countries refusal to service Russian Mir bank cards against  common interests - Elvira NabiullinaSome countries refusal to service Russian Mir bank cards against  common interests - Elvira Nabiullina
USAID to invest additional $33mln in Armenia`s economy USAID to invest additional $33mln in Armenia`s economy 
Idplus Bonuses in Idram&IDBank ApplicationIdplus Bonuses in Idram&IDBank Application
Deputy PM: we are ready for any assistance to contribute cargo  aviation establishmentDeputy PM: we are ready for any assistance to contribute cargo  aviation establishment
Mkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterallyMkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterally
Armenia, Iran discuss organization of joint production in various  branches of economy Armenia, Iran discuss organization of joint production in various  branches of economy 
ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  
Armenia`s Ministry of High-Tech Industry developing sectoral strategy Armenia`s Ministry of High-Tech Industry developing sectoral strategy 
Armenia`s footwear exports to Russia 11 times up Armenia`s footwear exports to Russia 11 times up 
EDB sets course for digital future of transportation at joint EEC and  ESCAP eventEDB sets course for digital future of transportation at joint EEC and  ESCAP event
Team`s Next Generation Networ is already available in AshtarakTeam`s Next Generation Networ is already available in Ashtarak
Kazakhstan`s potential exports to Armenia total $350mln - minister Kazakhstan`s potential exports to Armenia total $350mln - minister 
Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier 
Acquisition of Ameriabank by BOGG PLC int`l financial group completedAcquisition of Ameriabank by BOGG PLC int`l financial group completed
Armenian service sector generated revenue of $1.2 billion in first  two monthsArmenian service sector generated revenue of $1.2 billion in first  two months
EEC: EAEU common electricity market is at high level of readinessEEC: EAEU common electricity market is at high level of readiness
Armenia`s metallurgical industry increased production volumes by 37%  in first 2 monthsArmenia`s metallurgical industry increased production volumes by 37%  in first 2 months
Idram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment PrinciplesIdram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment Principles
US supports building of strong transport corridor from Turkiye  to  Central AsiaUS supports building of strong transport corridor from Turkiye  to  Central Asia
EFSD contributes to modernization of Armenia`s irrigation systemEFSD contributes to modernization of Armenia`s irrigation system
ADB to issue EUR 60.09mln loan to Armenia for urban development  programmes ADB to issue EUR 60.09mln loan to Armenia for urban development  programmes 
EIB to issue EUR 25mln loan to Armenia for 2nd phase of energy  efficiency programme in Yerevan EIB to issue EUR 25mln loan to Armenia for 2nd phase of energy  efficiency programme in Yerevan 
Armenia`s clothing exports to Russia 1.5 times up Armenia`s clothing exports to Russia 1.5 times up 
Armenia needs alternative if leaves EAEU - expert Armenia needs alternative if leaves EAEU - expert 
Diagnosis from Prime Minister: Armenia`s irrigation system is deadDiagnosis from Prime Minister: Armenia`s irrigation system is dead
CECC business mission to visit Armenia  CECC business mission to visit Armenia  
Armenia joins International Solar AllianceArmenia joins International Solar Alliance
Armenian NPP to be under maintenance repair Armenian NPP to be under maintenance repair 
Brett King: Banks should be ready to implement AIBrett King: Banks should be ready to implement AI
Expert: There is no alternative to digital transformationExpert: There is no alternative to digital transformation
Arman Barseghyan: technically, Ameriabank is a digital bank Arman Barseghyan: technically, Ameriabank is a digital bank 
1.2% y-o-y inflation in Armenia`s consumer market in March 2024 was  caused by drop in food prices 1.2% y-o-y inflation in Armenia`s consumer market in March 2024 was  caused by drop in food prices 
Read more


Exchange rates
18.04.2024
RUB4.190.00
USD394.07-1.03
EUR420.750.36
GBP491.72-0.42
CAD286.470.33
JPY25.52-0.03
CNY54.44-0.14
CHF433.660.15