Prime Minister Nikol Pashinyan has agreed to expand cooperation in the field of renewable energy with Saudi Arabian company ACWA Power and Masdar, a subsidiary of the United Arab Emirates energy company Mubadala. The aim of this agreement is to develop joint projects for the production of solar energy in Armenia. The Ministry of Economy of the Republic of Armenia reports that the trade turnover between Armenia and the United Arab Emirates has reached $2.8 billion by 2023, making the UAE the second largest trading partner of Armenia. Additionally, investments from the UAE in Armenia have reached approximately $135.2 million, with $105.2 million being direct investments. As a result, the cooperation between Armenia and the Arab Emirates continues to grow.