Thursday, August 2 2018 16:35
Alina Hovhannisyan

Artsvik Minasyan: High potential in Armenian-Japanese relations will  help bringing trade and economic ties to a new level

Artsvik Minasyan: High potential in Armenian-Japanese relations will  help bringing trade and economic ties to a new level

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. 

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