Shaula International Armenian residence company established in Armenia last year, will be represented in Italia within nearest months

ArmInfo. Shaula International  Armenian residence company established in Armenia last year, will be  represented in Italia within nearest months. The company will become  the official resident of DFA (Development Fund of Armenia). This was  stated by Fabio lenzi,  the Chief Executive of Shaula International,  during his conversation with ArmInfo reporter via phone.

 "We are intended to open a mission office in Italia during one-two  months and to become a bridge between Armenian and Italian business  partners," he said. The head of Shaula International mentioned also  that the company will  be specialized  in the issues of market  research and legal support of business partnership, promoting  Armenian-Italian trade economic and investment partnership.  Lenzi  informed also, that one of law firms in Rome  appears as a   Shaula  International partner, and will provide the legal aspects of Armenian  and Italian companies activities.  

The Company of Shaula International is not registered at European  databases yetand was created last year in Armenia. Its connection to  Italy by now is restricted only by Italian origin of  one of its  co-founders. The information stating the details of company's  activities is missing at the company's website yet.  According to the  official information of the Fund, shared with ArmInfo earlier, the  Chief Executive of DFA Armen Avagyan and Shaula International  Executive Director signed a memorandum on mutual understanding. The  ceremony was attended by Ambassador of Italy to Armenia  Giovanni  Ricciulli. Within the framnework of the memorandum mentioned, the  cooperation assumes the stimulation of investments environment and  Armenian business opportunities in Italy" Now and on Shaula becomes  responsible for representing Armenian business in Italy, for creating  stronger business relations and bilateral connections," DFA  press-release states. 

In his turn, the head of Shaula International mentioned" We are ready  to undertake all the efforts necessary to implement this project, to  attract more investments and entrepreneurs in Armenia, to support  tourism and export".  

According to Armenian National Statistic Service, foreign trade  turnover between Armenia and Italy in 2016 totaled $160.8 mln with  annual drop of 11.2%. Particularly, export decreased for 2% to $31.8  mln with export drop for 13.2% to $129 mln.