Armenian Development Fund and Confederation of Small Medium-sized Enterprises of France signed a Memorandum of Understanding

ArmInfo. The Armenian  Development Fund (ADF) in cooperation with the Confederation of Small  and Medium Enterprises of France (CGPME) in Yerevan held a business  forum "Yerevan-France", in which about 30 entrepreneurs from two  countries took part. The purpose of the event is to strengthen  economic ties and search for new ways of cooperation. Following the  Forum, the ADF and CGPME signed a Memorandum of Understanding.

According to the press office of the ADF, the Confederation of Small  and Medium-sized Enterprises of France (CGPME), a structure that  functions both at the national and regional levels. The organization  assists SMB representatives in the search for new markets,  investments, as well as in stimulating exports.

In the framework of the Forum there were meetings in B2B format,  where companies in the sphere of alcohol business, pharmaceuticals,  business consulting, construction and architectural design, real  estate, dried fruit production, and agricultural and processing  industries discussed plans for business development.

The General Confederation of Medium and Small Enterprises of France  (CGPME) is an authoritative organization that unites small, medium  and large businesses in France. The confederation includes about 250  large enterprises, 5,000 medium-sized companies and 3,138,000 small  and medium-sized businesses in France. The Confederation represents  the interests of 200 federations and trade unions, as well as over  600,000 enterprises.

According to the National Statistical Service of Armenia, the mutual  trade turnover between Armenia and France for January-July of 2017  amounted to $ 37.3 million with an annual decline of 30.2%. In  particular, exports fell by 1.1% to $ 1.9, while import grew by 32.5%  to 35.3 million. The gross volume of foreign investments received in  the real sector of the Armenian economy as of July 1, 2017 was $  13.98 billion, out of which $ 7.636 billion - FDI. The championship  is held by Russia - $ 5.083 billion, followed by Germany - $ 1.505  billion, Cyprus - $ 1.056 billion and France - $ 1.055 billion.