YEREVAN - Armenias Standing Committee on Economic Affairs has approved a landmark trade agreement between Armenia and the United Arab Emirates, paving the way for its formal ratification. The "Agreement between the Government of the Republic of Armenia and the Government of the United Arab Emirates on Trade in Services and Investments" was originally signed on February 5, 2026, in Abu Dhabi. Following extensive deliberations during the committee's meeting today, October 21, 2026, the draft received a positive conclusion from lawmakers, according to the Press Service of the National Assembly. Core Objectives of the Agreement Long-Awaited Economic Boost During his presentation to the committee, Armenian Minister of Economy Gevorg Papoyan emphasized that the document is the culmination of lengthy negotiations. He highlighted that the provisions for the promotion and reciprocal protection of investments would serve as an additional impetus for fresh business initiatives. Papoyan provided detailed clarifications on the agreement's regulatory frameworks and addressed lawmakers' questions regarding existing challenges in the export and import sectors. He concluded by thanking the committee members for a substantive discussion on how to best facilitate trade turnover. With the committee's endorsement secured, the agreement will now move forward to the plenary session of the National Assembly for final ratification.