ArmInfo. Chairman of the Armenian-American Business Council, member of the Executive Board of the Armenian Trade Network Alek Baghdasaryan was appointed the first and honorary representative of the Development Fund of Armenia (ARF) in the United States. A corresponding memorandum of understanding was signed between Alek Baghdasaryan and Armen Avak Avakyan. An honorary representative personally and through a trading network in 14 countries of the world will promote the export of Armenian goods.
As the press service of the Fund reports, the purpose of this assignment is to simplify the work of the Armenian manufacturer. It is also planned to jointly organize the export of small business products in order to reduce the cost of cargo transportation, provide the necessary volumes and conclude agreements with major international partners. According to Baghdasaryan, his mission is to contribute to the efforts of the government and to achieve the export of products of small businesses, as well as bring the products produced in Armenia in line with international standards. "Important matters are coming in the IT field," the honorary representative of the FRA noted.
Development Fund of Armenia already has 12 representatives in various countries of the world, they are tasked with stimulating exports and attracting investments," the Fund said.
According to the National Statistical Service of Armenia, Armenia's foreign trade turnover in January- August 2017 was 1873.8 billion drams ($ 3,880.6 million) with annual growth of 24.4%. In its structure, the volume of exports has undergone an annual growth of 21.7% to 667.8 billion drams ($ 1383.2 million), and imports - 26% to 1,126 billion drams ($ 2,497.4 million). Only in August 2017, foreign trade turnover increased by 0.4%, due to export growth of 3.6% with a decline in imports by 1.4%, and compared to August 2016, foreign trade turnover increased by 15.6% mainly due to growth of exports by 21.8% with a modest increase in imports by 12.2%.