Friday, October 6 2017 16:43
Margarita Mkrtchyan

Serzh Sargsyan held a meeting on the agenda of the Armenian-Italian economic cooperation

ArmInfo. Armenian President Serzh Sargsyan held a meeting on the agenda of the Armenian-Italian economic cooperation.

According to the press service of the Armenian leader, the agenda of the Armenian-Italian economic cooperation, promising areas of mutual interest such as energy, tourism, education and science, the food industry, as well as deepening and expanding cooperation, implementation of agreements, reached in the last period, the RA Ambassador to Italy Victoria Baghdasaryan reported to the President.

Having stated that this year marks the 25th anniversary of the establishment of diplomatic relations between the two countries, Sargsyan stressed that the Armenian-Italian relations are based on a joint history, with a number of friendly elements, which is extremely important from the point of view of interstate relations. In this context, Sargsyan did not consider it a coincidence that Armenia has recorded tangible results of cooperation with Italy in almost all spheres. "It is no secret that Italy is one of our most important partners in Europe also in the trade and economic sphere. It is also not a secret that we are deeply interested in developing these relations with Italy, as it is among the countries with a high level of development, and our cooperation with Italians leads us to a new management culture, with modern, efficient management. In this area, we must make serious efforts. Undoubtedly, it is encouraging that the trade turnover between our countries has grown significantly over the past two years. Compared with the data of the first half of last year this year, the indicators for the same period increased by 26%, and exports from Armenia to Italy increased by 21%. All this shows the great potential of our relations," the head of state said.

At the same time, he noted the importance of identifying new directions of interaction together with traditional directions. He recalled that cooperation between the two countries is developing in such areas as construction and food industry. According to him, now the interaction is being replenished with such major investment directions as high technologies, energy. "I am convinced that in a few weeks the Italians will begin to implement our agreement on the construction of a new and efficient thermal power plant, which is essential for us. We must work towards presenting our capabilities and our products in Italy. I would like to pay special attention to the possibilities in the sphere of light industry. If we take into account the fact that Italy is our third trading partner in Europe and the light industry occupies 90% of our turnover, this should give us great hopes and food for thought, as we are exporting goods in demand in Italy and Europe. It is important to maintain this pace," Sargsyan said, adding that this direction is given serious attention within the country. The Armenian leader expressed his belief that the sphere of light industry in the country should get a sharp rise.

He noted that the day before he was present at one of the local enterprises, where new types of production in this area were launched. According to him, only thanks to the activities of this production alone will 3,500 to 4,000 new jobs to be created. According to him, the emphasis is not only on tailoring products, but also on the production of own fabrics, threads. "Of course, we in Armenia can not grow cotton, but we can implement all other processes and develop some projects. I believe that we should explain to the Italian businessmen the competitive advantages of Armenia in comparison with other countries. I mean our membership in the Eurasian Economic Union. Italians are good businessmen and know the skills of selling their products, and in this sense I believe that Armenia can be considered as a platform for maintaining its positions on this 170 million market," the head of state said.

The Armenian leader also considered cooperation in tourism as a promising area, since this industry is very developed in Italy. According to Sargsyan, Armenia could adopt the Italian experience and record a sharp rise in this area, especially given that this year the tourist flow to the republic has increased by more than 20%.

At the end of the meeting, the Armenian President gave a number of instructions on the full use of the Armenian-Italian economic potential and the development of cooperation in promising areas.

According to the National Statistical Service, Armenian-Italian trade turnover for January-August 2017 was $ 130.7 million, with annual growth of 25.3%. Exports totaled $ 24.4 million, with annual growth of 20.5%, imports - $ 106.3 million, with an annual growth of 26.4%.

POST A COMMENT
Input digits     


News
Advantages of franchising discussed in Armenia with Acba Bank`s  participation Advantages of franchising discussed in Armenia with Acba Bank`s  participation 
Czech Republic to assist modernization of Yerevan metro Czech Republic to assist modernization of Yerevan metro 
Wine output records 32.6% y/y decline in Jan-May Wine output records 32.6% y/y decline in Jan-May 
ICC NCA to assist organization of WCIT2024 in Armenia ICC NCA to assist organization of WCIT2024 in Armenia 
New social vulnerability assessment system to be introduced in  Armenia New social vulnerability assessment system to be introduced in  Armenia 
Armenia`s government to provide AMD 2.2bln to construction  organizations Armenia`s government to provide AMD 2.2bln to construction  organizations 
AMD 4․046․161  to the Strong Mind NGO. July`s beneficiary is the SIA Armenia programAMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program
Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance MagazineArdshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 
China Southern Airlines launches Urumqi - Yerevan - Urumqi flights China Southern Airlines launches Urumqi - Yerevan - Urumqi flights 
Get 3000 idcoins by synchronizing your Idram and IDBank accountsGet 3000 idcoins by synchronizing your Idram and IDBank accounts
Armenia`s involvement in regional projects emphasized Armenia`s involvement in regional projects emphasized 
Armenian Airlines launches Yerevan-Ufa-Yerevan flightArmenian Airlines launches Yerevan-Ufa-Yerevan flight
Unemployment up in Armenia Unemployment up in Armenia 
Armenia`s economy vulnerable to external shocks - EFSDArmenia`s economy vulnerable to external shocks - EFSD
EAEU Industrial Council considers robotics development programme EAEU Industrial Council considers robotics development programme 
Smart Place: smart solutions for comfort and energy-savingSmart Place: smart solutions for comfort and energy-saving
Russia among Armenia`s major trade partners - Gevorg Papoyan  Russia among Armenia`s major trade partners - Gevorg Papoyan  
Armenia, UAE discuss possibilities of agricultural cooperation Armenia, UAE discuss possibilities of agricultural cooperation 
Expert on `blank spots` of budget planning in Armenia Expert on `blank spots` of budget planning in Armenia 
Armenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy CouncilArmenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy Council
No payment via Idram? More than 21,000 points of sale accept payment via IdramNo payment via Idram? More than 21,000 points of sale accept payment via Idram
<Gazprom Armenia> will conduct a survey of underground gas pipelines  with a total length of over 335 km will conduct a survey of underground gas pipelines  with a total length of over 335 km
WB to issue grant to Armenia for environmental protection programmes WB to issue grant to Armenia for environmental protection programmes 
JFPR to issue $3mln grant to improve rural household resilience JFPR to issue $3mln grant to improve rural household resilience 
EBRD to issue EUR 2mln grantfor Syunik customs center  EBRD to issue EUR 2mln grantfor Syunik customs center  
Armenia, Georgia discuss possible implementation of regional  high-tech projects Armenia, Georgia discuss possible implementation of regional  high-tech projects 
Ameriabank and COAF Pool Efforts to Develop Beekeeping in Lori RegionAmeriabank and COAF Pool Efforts to Develop Beekeeping in Lori Region
Deputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian marketDeputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian market
Armenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS FoundationArmenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS Foundation
Features of Armenian offshore: SRC assesses lossesFeatures of Armenian offshore: SRC assesses losses
Trend of shadow economy is reducing; Rustam Badasyan assuresTrend of shadow economy is reducing; Rustam Badasyan assures
Tax revenues on schedule in Armenia Tax revenues on schedule in Armenia 
Ball is in US court - Armen Grigoryan on NPP construction Ball is in US court - Armen Grigoryan on NPP construction 
The construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollarsThe construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollars
World Bank does not change Armenia`s status as upper-middle-income  countryWorld Bank does not change Armenia`s status as upper-middle-income  country
Armenian banks` delegation visits OVIO Data Processing CenterArmenian banks` delegation visits OVIO Data Processing Center
In-country tourism recorded 20% average annual growth since 2020 In-country tourism recorded 20% average annual growth since 2020 
Araratbank allocates $10 million in funding to women entrepreneursAraratbank allocates $10 million in funding to women entrepreneurs
State Revenue Committee reminds taxpayers of tax bill deadline State Revenue Committee reminds taxpayers of tax bill deadline 
Powers of Armenia`s Economic Competition Protection Commission to be  expanded Powers of Armenia`s Economic Competition Protection Commission to be  expanded 
Viva-MTS announces rebranding Viva-MTS announces rebranding 
Opinion: project to operate Chabahar port  in medium term will  increase Armenia`s transit capacityOpinion: project to operate Chabahar port  in medium term will  increase Armenia`s transit capacity
Based on preliminary estimates, construction of Ajapnyak metro  station will be completed by 2030-2032Based on preliminary estimates, construction of Ajapnyak metro  station will be completed by 2030-2032
Armenia takes over BSEC chairmanshipArmenia takes over BSEC chairmanship
Outage continues at ANPPOutage continues at ANPP
WB provides $110 million loan to support Enabling Universal Health  Coverage Program for ArmeniaWB provides $110 million loan to support Enabling Universal Health  Coverage Program for Armenia
Wizz Air launches Budapest-Yerevan-Budapest flights Wizz Air launches Budapest-Yerevan-Budapest flights 
Armenia sincerely committed to finalizing negotiations and signing  peace agreement within one month - Vahan KostanyanArmenia sincerely committed to finalizing negotiations and signing  peace agreement within one month - Vahan Kostanyan
New Golden Palace hotel owner allowed to re-mortgage hotel New Golden Palace hotel owner allowed to re-mortgage hotel 
Share of domestic debt exceeds 50% in Armenia`s public debt - expert Share of domestic debt exceeds 50% in Armenia`s public debt - expert 
AMD 1.2 billion bonds of AMD 1.2 billion bonds of "Pharm Credit Armenia" UCO CC have been  listed at Armenia Securities Exchange
Araratbank to pay 26.7% dividends per nominal share  Araratbank to pay 26.7% dividends per nominal share  
Armenian winemakers participate in Vinexpo New-York 2024 for the  first timeArmenian winemakers participate in Vinexpo New-York 2024 for the  first time
North-South road corridor of double importance for ArmeniaNorth-South road corridor of double importance for Armenia
No serious progress in construction of new underground station No serious progress in construction of new underground station 
EDB could invest $500mln projects in Armenia - Denis IlyinEDB could invest $500mln projects in Armenia - Denis Ilyin
The Moody s international rating agency has upgraded IDBank s ratingThe Moody s international rating agency has upgraded IDBank s rating
Slower tax collection rate could affect budget performance - Luys  Foundation Slower tax collection rate could affect budget performance - Luys  Foundation 
Read more
Exchange rates
12.07.2024
RUB4.41-0.01
USD388.00-0.45
EUR422.531.06
GBP502.892.72
CAD284.960.05
JPY24.380.33
CNY53.500.04
CHF433.080.60