Prime Minister N. Pashinyan: Armenia can become a unique regional power industry center
Indicators of economic growth and economic activity in Armenia create favorable conditions for the formation of very optimistic expectations, both in the current year and in the near future. This was announced on June 9 by the Prime Minister of the Republic of Armenia Nikol Pashinyan speaking at the Eurasian Congress.
According to him, in 2022, the Armenian economy recorded impressive economic growth. GDP growth compared to 2021 was 12.6%, the highest since 2008. In many ways, GDP growth was due to the growth of industry, trade, including trade services and construction sector, and export growth amounted to 77.7%, moreover, exports to the EAEU countries grew almost three times. “But I note that this is not the limit for us, sustainable development is possible if there are three main components: economic growth, social responsibility and environmental balance. Eurasia has great potential for economic growth,” the head of the Armenian government noted.
He continued that ensuring logistical security is one of the most important factors in the development of the national economies of the Eurasian states. Strengthening the potential of national economies is also due to a competent approach to ensuring energy security. Based on modern geopolitical realities, a new approach to the energy agenda is needed. “Currently, Armenia is actively working on the gradual liberalization of the electricity market, which creates new opportunities and favorable conditions for interstate electricity trade. We are developing production capacities, carrying out large-scale reconstruction of substations and transmission lines, and building high-voltage lines Armenia-Iran and Armenia-Georgia, which will contribute to the formation of the North-South energy corridor and create new opportunities for the export, import, transit or seasonal exchange of electricity. Thus, Armenia can become a unique regional electric power industry center,” Pashinyan stressed.
He considers it essential to continue working towards achieving carbon neutrality and advancing the green agenda. “Green economy is an alternative to the dominant economic model, which causes a shortage of resources and poses a threat to the environment. It is no coincidence that these issues have firmly entered not only the environmental, but also the economic agenda. The green energy policy of Armenia is primarily aimed at decarbonizing and limiting greenhouse gas emissions, developing renewable and alternative sources for energy production, introducing energy efficient and resource-saving technologies, introducing scientific and innovative technologies, as well as fulfilling international obligations under the global climate agenda. In this context, the development and maximum use of renewable energy potential is an interesting topic for discussion. Renewable energy sources such as solar, wind and hydro power have great potential in terms of promoting economic growth and sustainable development in the region. Investments in renewable energy sources can contribute to global efforts to combat climate change,” Pashinyan stressed.
In addition to the development of renewable energy sources, the Prime Minister of the Republic of Armenia also drew attention to nuclear energy, which is clean energy. The development of nuclear energy is also important from the point of view of ensuring energy security and independence of the EAEU countries. “To this end, we continue to take steps towards the promising use of nuclear energy, extending the life of the 2nd power unit of the Armenian NPP and working on the construction of a new power unit,” the head of the Armenian Cabinet said.
He also noted that a key component of ensuring equal economic competition at the global level is the effective development of advanced digital tools and technologies. “In particular, I want to touch on artificial intelligence, a rapidly developing field that can change many areas of human life. Experts predict that in the future AI algorithms will become more personalized, more advanced and integrated into society. Overall, the future of artificial intelligence is extremely attractive, but it is important to consider the ethical implications and ensure that artificial intelligence is developed and used in a responsible and useful manner. At the same time, we must not forget that innovations are primarily people who create them, their creative energy and will, therefore the development of human potential is of great importance,” the Prime Minister of the Republic of Armenia emphasized.