U.S.considers possibility of boosting direct investments in Armenia`s economy

ArmInfo. The U.S. considers possibility of boosting U.S.  direct investment in Armenia, US Ambassador to Armenia Richard Mills said at the meeting with the members of American Chamber of Commerce in Armenia on November 10.

According to him, one of the key areas Washington is looking at, when exploring ways of expanding Armenian-U.S. business ties, is the prospect of boosting U.S.direct investments in Armenia. All the issues related to the Armenia's economy and trade boost will be discussed during the sessions of the American Chamber of Commerce in Armenia on November 17 and working group for economic cooperation on November 19, the diplomat stated.

The Ambassador also added that the U.S. will continue to support Armenia in agriculture field. "Our agricultural support programs now implemented by USAID currently provide about $12 million in assistance to boost the competitiveness of Armenian agriculture and grow the economies of rural communities", Mills said.

To note, by Jan-Jun 2015 U.S. direct foreign investments in Armenia's economy totaled 865 million AMD (1.8 million dollars). The turnover between the two countries in Jan-Sep 2015 made up 118 million dollars. Compared to the same period of 2014 the indicator declined by 28%. The export from Armenia to the U.S. totaled 43.9 million dollars (31.2% yoy decline) and import totaled 74.8 million dollars (26% yoy decline).