Suren Karayan and Tian Erlong discuss possible participation of Chinese business in creation of free economic area on border with Iran

ArmInfo. Armenian Minister of  Economic Development and Investments Suren Karayan and Ambassador of  China to Armenia Tian Erlong discussed investment capacities of  Armenia.  

The press office of the Ministry has told ArmInfo that Suren Karayan  and Tian Erlong discussed the investment environment in Armenia and  the favorable conditions in the context of GSP+ and GSP system on the  markets of the United States, Canada, Switzerland, Japan and Norway,  as well as the factors that make Armenia attractive in terms of  investments. Minister Karayan presented the investment programs that  can interest the Chinese investors. 

For his part, Ambassador Erlong noted that Armenia is an important  economic partner for China. He suggested strengthening the economic  cooperation and developing relations in the field of investments.   

The sides also discussed possible participation of Chinese business  in creation of a free economic area on the border with Iran, as well  as the prospects for opening a copper smeltery.    

Earlier it was reported that the Armenian Government approved the  opening of a new position at the Armenian Embassy in China - the  position of Trade Attache. Minister Karayan told an ArmInfo  correspondent that creation of the trade attache's position is  determined by the huge opportunities the Armenian Government sees in  China. To note, in Jan-Dec 2016 Armenia's trade turnover amounted to  $5 bln 75 mln 349.9 thsd (up 7.7% as compared to Jan-Dec 2015).   Exports from Armenia amounted to $1 bln 782 mln 924.7 thsd. The  National Statistical Service of Armenia reports that as compared to  2015, exports grew by 20%. In 2016 imports to Armenia rose by 1.6% to  $3 bln 292 mln 425.3 thsd.  Russia retains its positions as the  leading foreign partner of Armenia. In 2016, the Armenian-Russian  commodity turnover made up 1 bln 366 mln 974.7 thsd USD (up 15.1%  versus 2015).  China holds the second place in Armenia's foreign  trade. Bilateral trade totaled $454 mln 36.4 thsd (down 5.7%).