O rbeli Analytical Center and Warsaw Enterprise Institute (WEI) conducted a joint study on the Armenian-Polish economic ties and prospects for their development.

Warsaw Enterprise Institute presents a series of new publications “State of Play” collaborating with non-European Union countries. On March 6 of this year, research entitled “State of Play. Armenia-Poland” was published in collaboration with the Orbeli Analytical Center, which explores the economic development of Armenia, Armenian-Polish economic relations, as well as the pace of tourism development and the level of migration, covering potential and prospects for bilateral economic development and the need to deepen cooperation.  

“Economic relations between Poland and Armenia are not particularly developed. Nevertheless, both countries play an important role in their region. On the other hand, Poland is one of the largest economies in Europe, so it should look for new trading partners for the further development of the economy”, said Szymon Witkowski, an expert at the Warsaw Enterprise Institute.

Presenting the dynamics of the trade turnover between Armenia and Poland, Meri Boyajyan, expert at the Orbeli Analytical Center, emphasized that even though the trade and economic relations between the two countries are not so well developed, they show a growth trend year by year, and in the context of current geopolitical development, the countries were able to reduce the emergence of economic risks.

“Armenia imported more goods and services from Poland than it exported and as a small open economy country, it has had a negative trade balance throughout its history. At the same time, there is a potential to further deepen and develop trade and economic relations in both countries”, noted Meri Boyajyan.

According to the experts, in the context of improving economic relations between Poland and Armenia, as well as the business environment, the signing of an agreement by the Warsaw Stock Exchange on the acquisition of about 65% of the shares of Armenian Stock Exchange on June 28, 2022 is also important, which will create new opportunities for Armenia and Poland in terms of cooperation in the capital market.  

“As for the cooperation between the two countries in the field of tourism, despite the increase in the flow of tourists from Poland to Armenia in recent years, Armenia continues to be an unpopular tourist destination for Polish tourists”, notes Meri Boyajyan.

According to Gevorg Arakelyan, an invited expert at the Orbeli Analytical Center, the cooperation between Poland and Armenia is possible in several fields, including IT/ICT field, agriculture and tourism, which can be supported by the cheap and quality labor in Armenia, favorable weather conditions and geographical position.

The study is a good basis for further cooperation between the analytical centers of the two countries. Given the great interest of the Polish business community in the Armenian market, the Warsaw Enterprise Institute will provide this study to representatives of the Polish business community and all interested parties. 

The project’s leaders are Sebastian Stodolak, Vice President of the Warsaw Enterprise Institute and Meri Hovsepyan, Head of the Economic Research Department of the Orbeli Analytical Center.

To access the entire study you can click the links below:
English version:  https://wei.org.pl/en/2023/news/admin/report-state-of-play-armenia-poland/
Polish version: https://wei.org.pl/2023/aktualnosci/admin/raport-stan-gry-armenia-polska/ :