Political Analyst Hakob Badalyan Questions Substance of Armenian-French Economic Cooperation
Yerevan, April 18 – Political commentator Hakob Badalyan has issued a critical assessment of Armenian-French economic relations, arguing that despite increased diplomatic rhetoric, there has been no substantial growth in French investment or economic activity in Armenia. Badalyan’s remarks were made in a Telegram post, following a meeting between Deputy Prime Minister Mher Grigoryan and the French Ambassador to Armenia, where the importance of French-capital companies in Armenia was highlighted.
Badalyan questioned the actual presence and growth of such companies, stating, “Where is the activity of these companies? Is there growth, development, so to speak, an increase in the activity of French-capital companies in Armenia, French investments? No.” He further elaborated that the companies currently operating in Armenia with French capital were established before 2018. Since then, over the past eight years, the “rhetoric regarding Armenian-French relations has multiplied from both sides – official Yerevan and Paris – but the real, practical, deep indicator of the relationship, the economy, is essentially absent.”
Unfulfilled Economic Roadmap and Lack of Private Sector Interest
Badalyan recalled that in October 2021, Armenia and France signed an economic development roadmap in Paris. He posed the question, “Where is it, what steps have been taken under that roadmap? How much has Armenian-French economic cooperation grown in five years? Almost none.”
He emphasized that state-funded programs are not a true indicator of economic strength, as they are primarily driven by political considerations. “The interest and involvement of economic entities is what truly testifies to the strength of a mutual relationship,” Badalyan asserted. He concluded that, in practice, there is no significant interest from French economic entities in the Armenian economy.
Badalyan’s comments underscore a perceived disconnect between the diplomatic discourse surrounding Armenian-French relations and the actual economic realities on the ground. His analysis suggests that while political ties may be strengthening, the economic partnership has yet to realize its full potential, with a notable absence of new French investments and a stagnation in the activity of existing French-capital businesses in Armenia.
