Wednesday, August 30 2017 20:19
Alina Hovhannisyan

Chinese city of Qingdao intends to establish economic relations with Armenia

Chinese city of Qingdao intends to establish economic relations with  Armenia

ArmInfo. Armenian Deputy  Minister of Economic Development and Investment Hovhannes Azizuan met  with the delegation of Chinese city of Qingdao, which was led by the  Deputy Chairman of the Standing Committee of the Municipal People's  Congress of Qingdao City Liu Shengzhen.  

According to the  department's press service, during the meeting, the parties discussed  the possibilities of cooperation in the areas of production of  household appliances, construction materials, pharmaceuticals, road  construction. An agreement was reached with the representatives of  the Chinese company regarding the exchange of information  to determine the possibilities for further cooperation.

Deputy Minister noted: "Despite the fact that the foreign trade  turnover between Armenia and China has increased by 35%, we are not  satisfied with these figures. We would like to see Chinese  investments in various sectors of the Armenian economy, as well as  the participation of Chinese enterprises in infrastructure  development programs of our country. " At the same time, he stressed  that he sees good prospects for the export of Armenian processing  agricultural products to the Chinese market.

For her part, Ms. Shengzhen noted that entrepreneurs of Qingdao City  are very interested in Armenia. In particular, for the development of  cooperation between Armenia and China, she stressed the importance of  implementing the program "One belt, one way".

According to the source, at the end of the meeting an agreement was  reached to provide information on the economic attractiveness and  investment opportunities of Armenia in Chinese, with the purpose of  conveying information to business representatives of Qingdao City. At  the same time, the sides noted the importance of holding more  substantive discussions during the next meeting.

According to Armenian National Statistics Service, foreign trade  turnover between Armenia and China totaled $ 243.1 million, with an  annual growth of 35%. In particular, exports increased by 20% to $  44.1 million, with imports increasing by 38.7% to $ 199 million.

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