CONTEMPORARY EURASIA VIII (2) ContEurVIII2 | Page 5

SAREN ABGARYAN
Western initiatives, by becoming a part of Russian lead Collective
Security Treaty Organization, Eurasian Economic Union and intensifying
its cooperation with the EU. 2 Although participation and contribution in
seemingly opposing interests, this fact is a result of Armenia’s historical
and geographical considerations. 3 This meant balancing the inherently
conflicting interests of Russia and the West, while at the same time building
strong economic and political ties with its immediate neighbours such as
Iran and Georgia, and rising economic superpowers such as China 4 .
China was one of the first countries to recognize the
independence of Armenia on December 27, 1991, which was followed by
the establishment of diplomatic relations between the states on April 6,
1992. Since the 1990s, the two countries have established trade relations
that have seen rapid growth and development along with the development
of Armenia and China’s rise to the status of a global economic giant.
In 1999 in particular, Armenia’s imports from China amounted to
0.6% of its overall imports, which was equivalent to US $238,000. In the
1990s, Russia and the USA had a dominant share in imports to Armenia,
with55% of overall imports. China’s share in overall imports to Armenia
stayed below 1% until 2004. These statistics have changed considerably
in the past decade. Armenia’s imports from China increased to 10% in
2010, and in 2016 it reached 11.29% - its highest share to date. Russia
continues to maintain its predominance in Armenian imports with a 30%
share and China comes in second. Thus, within last two decades,
Armenian imports from China have increased from $US 238.000 to $US
364 million, which is 1,500-fold growth, and China has moved from 21st
place to become the second biggest exporter to Armenia. 5 Equally
significant has been Armenia’s exports to China. In 1999, China had a
0.03% share in overall Armenian exports, which grew to 11.21% in 2015,
with overall exports amounting to $US 165 million. It has seen more than
1000-fold increase, which is a strong indicator of the increasing
importance of China in Armenian foreign trade. 6

2 Sergey
Minasyan,"Multi-vectorism in the Foreign Policy of Post-Soviet Eurasian
States," Demokratizatsiya 20, no. 3 (2012): 268.
3 Ibid.
4 Richard Giragosian, "Toward a New Concept of Armenian National Security," 16.
5 World Integrated Trade Solutions (WITS), Armenia Import Partner Share in percentage
for all countries and regions between 1997 and 2016, https://wits.worldbank.org; see
also Statistical Committee of the Republic of Armenia, http://www.armstat.am/en/.
6 WITS, Armenia Export Partner Share in percentage for all countries and regions
between 1997 and 2016, https://wits.worldbank.org.
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