Switzerland hopes for trade turnover increase with Armenia

ArmInfo. Switzerland is one  of the most important and active trade partners for Armenia, said  Ambassador Extraordinary and Plenipotentiary of the Swiss  Confederation to Armenia Lukas Gasser on the sidelines of the  Armenian-Swiss business forum.

"Comparing with Georgia and Azerbaijan, the best economic result  Switzerland demonstrated in Armenia", he said. As the Swiss Embassy  press service reports, in 2016, Switzerland is in TOP-10 trade  partners of Armenia occupying the 8th position. According to Gasser,  trade turnover between Armenia and Swiss Confederation was 170  million Swiss Franks in Jan-Oct 2017. "I hope the indicators will  have more dynamic growth next year", he noted. He also noted that the  Swiss businessmen are currently interested in Armenian  pharmaceuticals, winery, mining, R&D, IT, tourism and etc.    

The representatives of private and state sectors of Armenia and  Switzerland attended the forum, where the sides exchanged experiences  and discussed all the possible ways of cooperation. 

According to the National Statistical Service of Armenia, the foreign  trade turnover between Armenia and Switzerland in Jan-Sep 2017  increased 3.1-fold to $ 249.1 million, while exports increased  3.6-fold to $ 188.6 million, while imports grew 2.1-fold to $ 60.5  million. The main articles of Swiss imports to Armenia are gold,  diamonds, medicines and casings for the production of chasms.  Armenia, in turn, exports copper concentrate, the same gold, and  diamonds, again watch cases and turbo-jet engines. The net investment  flow between Switzerland and Armenia as of July 1, 2017 was 46.6  million drams, with an annual 8-fold decline. Switzerland's gross  investment in Armenia for the past nearly 30 years amounted to 128  billion drams, of which FDI amounted to 92.3 billion, excluding  repayments.