ArmInfo. On April 19, the issues of the Armenian- American economic cooperation were discussed during the meeting of the Minister of Economy of RA Artsvik Minasyan and the Ambassador Extraordinary and Plenipotentiary of the United States of America to the Republic of Armenia H.E. Mr. Richard M. Mills, the press-service of the Economy Ministry reports.
Expressing gratitude for the extensive support and assistance to our country over the years, the Minister presented Armenia's economic situation, reforms carried out in all fundamental spheres, expected growth in various sectors, as well as problems and activities aimed at their solutions. During the meeting were stressed the importance of activities carried out by the U.S. - Armenia Council on Trade and Investment set up under the Trade and Investment Framework Agreement signed between the Government of the United States of America and the Government of the Republic of Armenia.
Expressing his gratitude for the opportunity of meeting the Ambassador Mills noted that the Ministry of Economy is an important partner, with whom existing good working relations are guarantee of deepening relations. "The U.S. Embassy has a close and effective partnership with the Ministry of Economy working together as part of the recently established U.S. - Armenia Council on Trade and Investment (TIFA Council) to boost bilateral economic and commercial ties. We are also looking forward to continue our cooperation in the areas of civil aviation, tourism, business promotion, and the fight against corruption," Ambassador Mills said. Artsvik Minasyan presented the process of ongoing reforms, referred to the process of review of legislation on competition, constitutional changes, due to the Ministry's commitment to establish anti-corruption policy, stressing the importance of openness and transparency in all processes.
"I think that sectorial reforms, including the reforms on competitive environment created by the documents and formulations of qualified professionals will only boost the successful implementation of them," said Artsvik Minasyan noting the importance of continuing the educational programs. During the meeting the reference was made to the possibility of carrying out joint innovative projects, as well as deepening cooperation in the spheres of tourism, information technologies, investment, etc. At the end the parties once again reaffirmed their readiness to develop and strengthen the cooperation.
To note, by the data of National Statistical Service of Armenia in Jan-Dec 2015 trade turnover between Armenia and the USA totaled 162.1 mln USD with 27.4% y-o-y decline, while the export dropped by 40.3% to 54.6 mln USD and import by 18.5% to 107.5 mln USD.