ArmInfo. On September 23 Karen Karapetyan received a delegation led by Chinese AVIC International Corporation Executive Vice President Liu Jun, the press-service of the Armenian government informs.
Welcoming the delegation to Armenia, the Prime Minister said his government is prepared to engage in mutually beneficial cooperation.
Congratulating Karen Karapetyan on assuming the office of Prime Minister of Armenia, Liu Jun said that AVIC International is interested in the implementation of investment projects in Armenia and introduced the main directions of his corporation's activities.
The interlocutors discussed prospects of cooperation and the possibilities of implementing joint projects in transport, energy, aviation and agriculture. Prime Minister Karen Karapetyan welcomed AVIC International's commitment to make investments in Armenia's economy and expressed his government's readiness to facilitate the cooperation.
The Prime Minister instructed the relevant departments to discuss in more detail the proposed investment programs in possible areas of cooperation.
AVIC International Holding Corporation (AVIC INTERNATIONAL) was born from its predecessor, China National Aero-Technology Import & Export Corporation (CATIC), which was established in January 1979, at the beginning of China's reform and opening-up drive. In 2008, CATIC was restructured and renamed AVIC INTERNATIONAL. AVIC INTERNATIONAL today is controlled by Aviation Industry Corporation of China (AVIC) and its shares are also jointly held by The National Social Security Fund, Beijing Plateau Hanhua Investment Management Center and China Aviation Industry Equity Investment (Tianjin) Co., Ltd. AVIC INTERNATIONAL has set up wholly-owned or holding subsidiaries in major cities across China, has established over 160 branches in more than 60 countries and regions, and owns eight listed companies. The company has over 100,000 employees serving customers in more than 180 countries and regions. It has a total asset of more than RMB 280 billion.
To note, according to the National Statistics Service of Armenia, foreign trade turnover between Armenia and China declined by 19.2% y-o-y and totaled $218.8 million in the first seven months of 2016. Exports dropped by 57.2% and totaled $45.3 million, amid 5.3% growth of imports to $173.5 million.
orts dropped by 57.2% and totaled $45.3 million, amid 5.3% growth of imports to $173.5 million.