ArmInfo. Armenian Minister of Economic Development and Investments Suren Karayan and Ambassador of China to Armenia Tian Erlong discussed investment capacities of Armenia.
The press office of the Ministry has told ArmInfo that Suren Karayan and Tian Erlong discussed the investment environment in Armenia and the favorable conditions in the context of GSP+ and GSP system on the markets of the United States, Canada, Switzerland, Japan and Norway, as well as the factors that make Armenia attractive in terms of investments. Minister Karayan presented the investment programs that can interest the Chinese investors.
For his part, Ambassador Erlong noted that Armenia is an important economic partner for China. He suggested strengthening the economic cooperation and developing relations in the field of investments.
The sides also discussed possible participation of Chinese business in creation of a free economic area on the border with Iran, as well as the prospects for opening a copper smeltery.
Earlier it was reported that the Armenian Government approved the opening of a new position at the Armenian Embassy in China - the position of Trade Attache. Minister Karayan told an ArmInfo correspondent that creation of the trade attache's position is determined by the huge opportunities the Armenian Government sees in China. 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%).