ArmInfo. Armenian Foreign Minister Edward Nalbandian and Japanese Ambassador to Armenia Eiji Taguchi signed the Agreement on Liberalization, Stimulation and Protection of Investments between the Government of the Republic of Armenia and the Government of Japan on February 14.
According to the Foreign Ministry's press service, in his speech the Foreign Minister stated: "Last year, the 25th anniversary of the establishment of diplomatic relations between Armenia and Japan was marked, political relations between Armenia and Japan were a significant way of development, and during this period the opening of embassies in the capitals of the two states undoubtedly had a positive impact on the intensification of relations."
E. Nalbandian noted that there is a great potential for economic cooperation between the two countries, and Armenia is ready to use it fully. The Minister of Foreign Affairs stressed: "Armenia is the first country in the region with which Japan signs the Agreement on Stimulation and Mutual Protection of Investments, and we highly appreciate this, being sure that this document will become a new impetus for the development of mutually beneficial economic partnership between the two friendly countries.
According to the National Statistical Service of Armenia, the foreign trade turnover between Armenia and Japan as of the end of 2017 was $ 81.5 million with an annual growth of 56.7%. In particular, imports increased by 56.9% - to $ 81.1 million, and exports - by 29.6% to $ 491.7 thousand.