Javadyan: Visit of President of National Bank of Argentina to Armenia will contribute to strengthening of mutually beneficial relations

ArmInfo. Visit of the Argentine delegation headed by the President of the National Bank of Argentina (NBA) Carlos Melconian to Armenia will contribute to strengthening of mutually beneficial relations between the two states, Chairman of the Central Bank of Armenia Artur Javadyan said at the meeting with the President of NBA expressing hope that the visit of the NBA's President will lead to launch of efficient cooperation.

The press-service of the Armenian Central Bank informs that during the meeting Javadyan presented the current situation in the financial system of Armenia. At the same time the Chairman of the CBA noted that the Central Bank have always encouraged entering the Armenian market of foreign institutional investors, realizing the importance of cooperation between the participants of the market and foreign partners.  Melconian in his turn expressed readiness to assist as far as possible to the strengthening of ties between financial sectors of Armenia and Argentina.

According to the source after visiting the CBA the President of the NBA held meetings with representatives of the financial market of Armenia as well as with the representatives of those enterprises, in which Argentinean investments have been made. During these meetings Armenia's investment opportunities and attractiveness, as well as issues related to macroeconomic development were discussed.

To note, President Serzh Sargsyan and Prime Minister of Armenia Hovik Abrahamyan received yesterday the President of the National Bank of Argentina Carlos Melconian. During the meeting the interlocutors stressed the importance of activation and deepening of trade and economic relations.

According to the National Statistical Service of Armenia the amount of Argentina's gross investments in Armenia totaled 288.2 bln AMD or 599.4 mln USD (25.9% y-o-y growth) as of April 1 2016. From this amount 155.4 bln AMD or 323.2. mln USD are FDI (9.2% y-o-y growth). Argentina invests in agriculture sector and air transportation field of Armenia. Argentina holds the 5th place among the top 5 countries investing in Armenia.