France in Armenia

The French economic presence in Armenia is growing every year. French companies with worldwide reputations are setting up in a country where the main attraction is the clear prospects of an emerging market.
Emerging infrastructure development, highly competitive labour costs, a good level of education and an entrepreneurial spirit are all major assets in this country.
In addition, the historical ties that have united France and Armenia for over 100 years are reflected in the very positive image of France and the French in Armenia.
Since Armenia's independence in the 1990s, more than 100 French companies have set up in the country.
Among the country's biggest economic players are ACBA Bank (Crédit Agricole), Amundi, Yerevan Brandy Company (Pernod Ricard), Veolia, Bureau Veritas and many others.
The total volume of bilateral trade in 2023 reached EUR 160 million. French exports to Armenia reached EUR 143 million, while imports totalled EUR 17 million.

The balance of trade between France and Armenia continued to show a surplus in favour of France in 2018, which increased by +70% compared to 2017, to 58M EUR.

According to official statistics, with a market share of around 2.8% in 2022, France remains a second-tier trade supplier to Armenia, behind Russia (24.3%), the EU (21.6%), China (9%), Germany (6.2%), Ukraine (5%), Turkey (5%), Iran (4%), Switzerland (4%), the United States (3%), Japan and Brazil (2%).

However, after Russia, France has been the second largest foreign investor in Armenia since 2016, with an FDI stock of around $236m in 2022.

Armenia benefits from public financing from France: AFD and its subsidiary Proparco have been active in Armenia since 2012. AFD finances housing renovation and energy efficiency improvements. Proparco finances SMEs in the agrifood and agriculture sectors.

France supports Armenia in the chapter on the reciprocal protection of geographical indications (GIs) in the CEPA agreement, which notably provides for the cessation of the "Cognac",

French-Armenian relations are also strong in terms of cultural and technical cooperation. An intergovernmental agreement on cultural, scientific and technical cooperation between France and Armenia was signed on 4 November 1995. France's priorities in Armenia are the teaching of French and the training of the elite, notably through the French University in Armenia, which welcomes more than 2,500 students a year for courses in law, business and management, leading to a double degree in French and Armenian, in partnership with the University of Lyon III.
France also supports a range of cultural events, including film, cartoon and animated film festivals, the week of the Francophonie and the music festival.

Decentralized cooperation is very dynamic. Around twenty French local authorities are involved in twinning and cooperation projects with Armenia in a wide variety of fields (tourism, health, etc).

The mission of CCI France Armenia is particularly to inform French companies wishing to invest or trade with Armenia.

Download notre fiche Pays 2024 (FR) and find the main information on Armenia (key figures, growth sectors, business climate …).

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