Doing business in Armenia

Armenia offers a strategic gateway at the intersection of Europe, the Middle East, and Eurasia. Its location allows companies to access multiple regional markets while operating in an open and business-friendly environment.

The country has an open economy, a liberal investment regime, and relatively low barriers to entry. Foreign investors benefit from national treatment, full ownership rights in most sectors and access to government support programs. Armenia also offers a skilled and cost-competitive workforce, with strengths in engineering, science, and technology. 

The country is positioning itself as a regional hub for innovation, technology and services, creating opportunities for market entry, partnership, and regional expansion.

• Agriculture and agri-food: Armenia’s favourable climate and growing export potential support opportunities in high-value agricultural production and processed food products, including organic and niche segments.
• Clean technologies: Armenia is placing increasing focus on energy efficiency, renewable energy and environmental sustainability, creating opportunities for Canadian clean technology solutions and expertise.
• Education: Armenia is undertaking ongoing reforms in education and vocational training, with a focus on international partnerships. This is driving demand for high-quality programs and institutional collaboration.
• Information and communications technologies (ICT): Armenia’s ICT sector is growing rapidly, supported by a highly skilled workforce and strong innovation ecosystem. This creates opportunities in software development, artificial intelligence and digital solutions.
• Mining: Mining remains a key contributor to Armenia’s economy and presents opportunities in responsible practices, technology adoption and environmental management.

Armenia benefits from preferential market access through the Eurasian Economic Union (EAEU), which enables duty-free trade to a market of over 180 million consumers, including:

• Russia
• Kazakhstan
• Belarus 
• Kyrgyzstan

At the same time, Armenia maintains strong economic ties with the European Union under the Comprehensive and Enhanced Partnership Agreement (CEPA). This supports regulatory alignment and facilitates cooperation with European partners.

Armenia is a member of the World Trade Organization (WTO), demonstrating its commitment to transparent, rules-based trade. Armenia has also signed multiple bilateral agreements on investment protection and double taxation, helping create a predictable and secure business environment.

Canada does not have a free trade agreement with Armenia.

• Canada-Armenia Foreign Investment Promotion and Protection Agreement
• Search for all types of trade and investment agreements involving Canada and Armenia
• Read an overview of Canada’s diplomatic, economic and cultural relationship with Armenia