Tuesday, November 17 2015 19:45
Naira Badalian

Armenia has real opportunities for development of U.S. business, Ambassador Mills says

Armenia has real opportunities for development of U.S. business, Ambassador Mills says

ArmInfo. The goal of the discussions is to create a favorable investment environment in Armenia, U.S. Ambassador to Armenia Richard Mills told reporters during the opening of the first meeting of the U.S.-Armenia Council on Trade and Investment on November 17.   

Ambassador Mills thinks that no one can order the U.S. or Armenian businessmen to invest in Armenia or the United States. So, a favorable business environment should be formed to make both countries attractive for investments. The meeting of the U.S.-Armenia Joint Economic Task Force will cover a wide range of issues such as tax and customs reforms in Armenia, licensing, etc. The Ambassador stressed that the discussions aim to create a business environment in 
line with the international law standards. Armenia has real opportunities for U.S. business provided that relevant conditions are ensured. At the moment, he said, the Government of Armenia and the judiciary should ensure equal conditions for all business participants - U.S., French, Russian, etc. He also stressed the need to be consistent in achieving those goals. 
 
The first meeting of the U.S.-Armenia Council on Trade and Investment kicked off in Yerevan on November 17. Following that session, members of the U.S.-Armenia Joint Economic Task Force will also gather in Yerevan. During the first meeting of the Armenia-U.S. Council on Trade and Investment, a day- long session will cover a wide range of issues, including intellectual property rights, customs clearances, technical barriers to trade, sanitary measures, investment promotion efforts, private sector engagement, government procurement, WTO Trade Facilitation Agreement, and environmental and labor issues.
 
The U.S.-Armenia Joint Economic Task Force (or USATF), was created in 1999 and it meets every year.  The annual meetings are an opportunity for high-level delegations from both the Armenian and U.S.  governments to meet and have an opportunity to discuss ways how the 
countries can deepen their economic ties, how they can further market reforms in Armenia, and how the U.S. government can best use U.S.  assistance to contribute to Armenia's long-term economic growth, create more jobs, and promote trade between the two countries. In addition, in May 2015, the two countries signed a Trade and Investment Framework Agreement (called a TIFA). The TIFA has established the Armenia-U.S. Council on Trade and Investment. It is this newly-established TIFA Council that will hold very detailed discussions that are specifically focused on the trade relationship and what are some of the barriers to Armenians trading and investing in the U.S. and to Americans trading and investing in Armenia.
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