Implementation of TRIPP will be a cornerstone for transforming not only Armenia’s but the entire region’s economic environment: Pashinyan

Prime Minister Nikol Pashinyan attended the “Armenia–United Kingdom Business Forum 2026,” which is being held in Yerevan for the first time.

The Prime Minister delivered a speech and welcomed the participants, emphasizing that holding the forum is a logical step following the signing in May of this year of a memorandum establishing a strategic partnership between Armenia and the United Kingdom.

“Once such a partnership has been established, the primary question that arises for governments is the following: how can the political will expressed through the adopted document or documents be turned into reality? The most effective way to address this challenge is to make the political substance discussed between governments part of everyday life. And forums like this serve precisely that purpose—to fill the space opened up by governments with real life and concrete activity,” he said.

Referring to the economy and business, Nikol Pashinyan noted that experience shows that people who are not constrained by a specific set of governmental or other official responsibilities are better able to identify opportunities and prospects.

In this context, the country’s leader expressed hope that the ideas raised during the forum’s discussions would move into the next stage of development and ultimately turn into concrete agreements.

Nikol Pashinyan also addressed the establishment of a railway connection between the Persian Gulf and the Black Sea, the implementation of the North-South Road project, and the opening of roads running in the same east-west direction parallel to the railway.

“What I am describing is precisely what the Government of the Republic of Armenia has approved within the framework of the ‘Crossroads of Peace’ project. Alongside all these communications, possibilities are already being considered and discussed regarding the construction of oil and gas pipelines. We are also holding specific discussions concerning electricity transmission lines,” he said.

According to the country’s leader, all of this means that Armenia and the United Kingdom are becoming increasingly closer in terms of transportation, and that this is the right time to discuss what opportunities are available and can be utilized.

Nikol Pashinyan noted that every economic development brings further economic development with it.

“The most successful countries are those whose economic growth is continuous and consistent. Over the previous five years, we had planned to ensure average annual economic growth of 7% in Armenia, and in fact, we achieved an average economic growth rate of 7.9%. In other words, each 7.9% increase has been added to the 7.9% growth recorded the previous year.

Overall, in 2025, Armenia’s gross domestic product increased by approximately 53% compared with 2018, taking into account the worldwide economic downturn during the COVID-19 years as well.

For the next five years, we have planned to ensure average annual economic growth of 6%. We also have a number of strategic priorities. I mentioned one of those strategic directions—the opening of regional communications—but I also want to draw attention to the developments taking place in Armenia in the field of renewable energy.

In particular, over the next five years, we plan not only to maintain the pace of development of renewable energy, but also to make renewable energy more institutionally reliable for our economy and our state,” the country’s leader said.