RA Minister of Economy Gevorg Papoyan and Deputy Minister Narek Hovakimyan took part in the “American Competitiveness Exchange” (ACE) program in Detroit, Michigan, USA.

During the final part of the event, Armenia was officially announced as the next host country of the program. It's worth noting that Armenia is the third country beyond the American continents where this program will be implemented as an observer.

Minister of Economy Gevorg Papoyan welcomed the participants and emphasized the strengthening of relations with the United States and other countries in the American region. He highlighted the opening of new cooperation opportunities for the public, private, and educational sectors. Additionally, he emphasized the importance of diversifying the Armenian economy and the need for work in this direction.

The Inter-American Competitiveness Exchange is one of America's most important efforts in economic development, innovation, and entrepreneurship. Consequently, as a result of the program, new business ties and serious prerequisites for establishing mutually beneficial economic and trade relations with North and South America will be created in Armenia. It also promotes interaction between the public and private sectors, attracting investment, and establishing cooperation between educational institutions.