Armenia`s Trade Attache to Beijing to be responsible for promoting trade and economic cooperation between China and Armenia  

ArmInfo. At today's sitting, the Armenian Government approved the opening of a new position at the Armenian Embassy in China - the position of Trade Attache. Armenian Minister of Economic Development and Investments Suren Karayan said that creation of the new position is stipulated by the Armenian-Chinese agreement on trade and economic cooperation dated 10 Sept 2013.      

Minister Karayan has told an ArmInfo correspondent that creation of the trade attache's position is determined by the huge opportunities the Armenian Government sees in China.      

According to the draft decision, the new position implies additional budget expenses worth 41.8 mln AMD monthly. In 2017, the Armenian state budget will spend 157.9 mln AMD on the activity of Armenia's trade representations in WTO and EU. The trade representation in Russia is not financed from the state budget, the minister said.

To note, in Jan-Dec 2016 Armenia's trade turnover amounted to $5 bln 75 mln 349.9 thsd (up 7.7% as compared to Jan-Dec 2015). Exports from Armenia amounted to $1 bln 782 mln 924.7 thsd. The National Statistical Service of Armenia reports that as compared to 2015, exports grew by 20%. In 2016 imports to Armenia rose by 1.6% to $3 bln 292 mln 425.3 thsd. Russia retains its positions as the leading foreign partner of Armenia. In 2016, the Armenian-Russian commodity turnover made up 1 bln 366 mln 974.7 thsd USD (up 15.1% versus 2015).  China holds the second place in Armenia's foreign trade. Bilateral trade totaled $454 mln 36.4 thsd (down 5.7%).