ArmInfo. There is a high potential in the Armenian-Japanese relations, due to which trade and economic ties can be brought to a new level, Minister of Economic Development and Investments of Armenia Artsvik Minasyan stated at the meeting with the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia Jun Yamada.
According to the press service of the ministry, the Minister presented to the Ambassador economic reforms, informed about the implementation of programs implemented by the Japan International Cooperation Agency in Armenia. The sides touched upon issues related to Armenia's investment attractiveness, activities aimed at stimulating tourism, etc. Besides, during the meeting the sides discussed ratification of the agreement "The Program on Stimulation and Mutual Protection of Investments between Armenia and Japan", which, in the opinion of the interlocutors, will be an incentive for attraction of new investments.
According to the National Statistical Service of Armenia, the foreign trade turnover between Armenia and Japan in 2017 totaled $ 81.5 million, with a year-over-year growth of 56.7%. Exports increased by 29.6% to $ 491.7 thousand, while imports increased by 56.9% to $ 81.1 million. In the first half of 2018, the trade turnover between Armenia and Japan amounted to $ 49.8 million, with a year-over-year growth of 72.2%, in particular, imports amounted to $ 49.7 million (with a year-over-year growth of 71.8%), and exports $ 114.9 thousand.