SBI Technology

The United States Agency for International Development (USAID) has prepared an analysis of alternative export markets for Armenian exporters. Head of the Armenian Economic Department Vahan Kerobyan attended the corresponding event, organized by USAID in cooperation with the Ministry of Economy.

During the event, he stressed that this is an extremely important work carried out by USAID, since overdependence on one market makes vulnerable not only exporters, but also the entire economy of Armenia. "As a result of this analysis, we will understand what potential Armenian goods have in alternative markets and what steps are needed to diversify our exports," the minister said. According to him, the ratio of exports to GDP in 2022 was 48%, and Q1 2023 alone - 62.6%, which exceeded the target for 2026.

The event was also attended by USAID Mission Director for Armenia John Allelo , expert of the USAID project to improve the business environment in Armenia, Head of Management Advisory at Ameria Group Inc. Tigran Jrbashyan , other officials of the sector, and international experts.

According to the data of the RA Statistical Committee, the share of Russia increased from 31.6% to 34.3% in the foreign trade turnover of Armenia, on a y-o-y terms, against the backdrop of a significant increase in the share in exports from 28.3% to 49%, while the share in imports decreased from 33.4% to 25.8%. Thus, leadership in foreign trade turnover in general, and in exports and imports in particular, continues to be held by Russia. In particular, the foreign trade turnover between Russia and Armenia in Jan-May 2023 exceeded $2.5 billion, with an acceleration of y-o-y growth from 39.2% to 2- fold, thanks to a surge in exports with an imperceptible slowdown in import growth. Thus, the volume of exports of goods from Armenia to Russia increased 3.3-fold year-on-year, while a modest 32.7% growth was observed in the same period of 2022. At the same time, the upward pace of imports of goods from Russia to Armenia slightly slowed down - from 42.5% to 42%. Moreover, such a sharp change in the y-o-y dynamics of both exports and imports is explained by the consequences of the unprecedented scale of anti- Russian sanctions applied by the collective West. As a result, the volumes of exports to Russia and imports from Russia amounted to $1.3 billion and $1.2 billion, respectively, in Jan-May 2023.

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In order to support the technology and education sectors, stimulate innovative ideas and start-ups, Team Telecom Armenia has become a technology partner of the already traditional Sevan Startup Summit.

Startups, representatives of the IT sector and investors from Armenia and more than 30 countries take part in the event, which takes place on the shores of Lake Sevan, according to the company's press service. Hayk Yesayan, CEO of Team Telecom Armenia says: < Telecommunication is at the forefront of technology companies and consumers, providing an uninterrupted communication between them. If there is no telecommunication, there will be obstacles on this path, and the technological sector will not develop. To this end, we are partnering with the Sevan Startup Summit to present Team Telecom Armenia programs and understand the challenges of the IT community>.

This year, the organizers again held discussions around campfires , the so-called Campfire talk, during which CEO of Team Telecom Armenia Hayk Yesayan presented the history and transformation of the Armenian telecommunication sector to the participants, spoke about the role of telecommunications in the development of the technology sector, as well as the future plans of the company. As part of the event, an educational micro-acceleration program is also being held, designed for startups that are in the growth stage.

Team Telecom Armenia (https://www.telecomarmenia.am/hy/) is a completely Armenian brand and a powerful team of thousands of professionals. Team provides Internet, digital television, mobile and fixed communication services throughout the Republic of Armenia. As the successor of the first telecommunication system in Armenia, "Team" combines the rich experience of the first communication operator with modern technologies. Since 2021, the company has begun construction of a unique NGN (Next Generation Network) in the region with a speed of 25 Gb/s with 25G-PON technology. In the near future, mobile stations operating throughout Armenia will be connected to this network. Team Telecom Armenia also provides GSM 900/1800, 3G (UMTS) and 4G (LTE) mobile communications, fixed telephony, IPTV and OTT digital television services as well as Internet access using FTTH, FTTB, VDSL and ADSL technologies. Within the framework of corporate social responsibility programs, Team implements projects that contribute to the creation of Armenian-language content, supports startups and Hi-Tech events in Armenia. Before May 2022, the company operated under the Beeline brand.

The first Sevan Startup Summit was held in 2016. In total, over 25 thousand participants from 50 countries of the world took part in the summit over so many years. The prize fund is USD 350 thousand , and attracted investments within the framework of the project reach USD 4 million. This summit played a serious role in the formation and development of the startup ecosystem in Armenia. Recently, the summit extended to the international level and was held in the United Arab Emirates and India under the Seaside Startup Summit brand.