ArmInfo. Unlike Azerbaijan, where Germany has stopped implementation of a number of programs, in Armenia such programs will be continued and expanded, Head of Armenia-Germany parliamentary friendship group Artak Davtyan stated presenting the results of his visit to Germany and meetings held with German counterparts.
He recalled that Germany is the leader among the European countries by the amount of investments in Armenia. Since 1990 Germany has invested about 825 mln EUR into Armenia's economy. "During the meeting German counterparts proposed to speed up procedure of ratification of investment programs, as well as expressed wish that Armenian side will demonstrate more coordinated approach to their implementation", the MP stressed. The politician added that the German side is ready to finance programs with participation of only Armenian side as well as multisided programs for example with Georgia and other regional countries' participation.
To note, earlier German Ambassador Matthias Kiesler said that in 2016 alone Germany has provided new financial allocations worth 54.4 mln EUR to Armenia. In addition, Germany will provide 22 mln EUR to support the regional projects, which are being implemented mainly within the frames of technical cooperation. Together with the US and the EU, Germany is a large financial donor partner of Armenia, he noted.
To note, according to the National Statistical Service of Armenia, in Jan-Sept 2016, the total amount of commodity turnover between Armenia and Germany totaled $231 mln, down 4.7 % versus Jan-Sept 2015. Exports amounted to $97.1 mln (down 5.4%), while imports totaled $133.9 mln (down 4.1%).