Monday, March 5 2018 19:20
Marianna Mkrtchyan

Armenia and US prepare to Traid and Investment Council session

ArmInfo. The Minister of Economic Development and Investments Suren Karayan and Deputy Assistant Secretary of State for Economic and Business Affairs Brian McFithers discussed the Armenian-American cooperation agenda.

As the Economy Ministry reports, the sides discussed the spheres where potential is foreseen.

S. Karayan positively assessed the fact the trade turnover between Armenia and the USA in 2017 registered significant growth and the positive dynamics continued in January 2018. The Minister stressed that not all the potential for economic cooperation has been used, and more efforts are needed to achieve significant progress. From this point of view, the importance of holding a meeting of the Armenia-US Trade and Investment Council in the United States on March 19 of this year will be discussed at which the main range of issues on the bilateral agenda in these sectors will be discussed.

"My visit once again confirms the US government's commitment to intensive trade with Armenia, which increased by 42% last year, and we appreciate the efforts of the Armenian government to improve the business environment and combat corruption in order to increase the attractiveness of Armenia for investment, and support them. Extended economic opportunities are mutually beneficial for our countries," said B. McFithers.

During the meeting, the parties touched upon the items on the agenda of the forthcoming meeting of the Armenia-US Trade and Investment Council, reform of the investment sphere, and issues related to GSP.

According to the National Statistical Service of Armenia, the trade turnover between Armenia and the USA in 2017 was $ 204.8 million, with an annual growth of 68.2%. In particular, exports increased by 76.5% to $ 68.5 million, and imports - by 64.3% to $ 136.3 million.


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