On 29 September 2026, media reported that Armenian Deputy Prime Minister Mher Grigoryan and France’s new ambassador, Florian Escudier, discussed expanding the presence of French businesses in Armenia and increasing trade and economic ties during a meeting in Yerevan.
According to the report, the discussions included support from the European Union’s temporary trade-liberalisation measures. The source said these measures could help diversify Armenia’s economy and reduce its dependence on Russia. It also referred to earlier concerns expressed by Russian officials about the conditions for Russian capital operating in the region.
The report is available at the cited media source.
Economic and political implications
The source presents closer French-Armenian relations as an opportunity for France to strengthen its position in the fast-growing South Caucasus market and expand sales of French goods and services. It states that France recorded a trade surplus of €146 million with Armenia in 2025.
It also identifies energy, transport and defence as areas in which new projects could turn political rapprochement between Paris and Yerevan into contracts for French companies. These are presented as potential developments rather than confirmed projects.
The source further argues that stronger economic ties with France and the EU could gradually reduce Moscow’s ability to use Armenia’s trade, investment and corporate dependence as leverage. It says that if the share of European capital and Armenian companies’ access to the EU market increase, the importance of Russian businesses and the Russian market to some sectors of Armenia’s economy could decline, giving Yerevan more room to pursue an independent economic policy.
