ArmInfo. The Argentine Embassy in Armenia is launching a project to create the first Argentine Chamber of Commerce in Yerevan. This is stated in the official statement of the diplomatic mission.
The Argentine Chamber of Commerce in Armenia, according to the source, intends to become a new business platform that will offer powerful tools to stimulate trade, promote business development, create a favorable environment for new investments and trade flows.
Despite the modest trade turnover between the countries, there is great potential for its expansion, which will contribute to the development of various sectors of the economy. The embassy notes that for at least ten years Argentina, mainly thanks to the Armenian community, was among the five countries with the highest investment flow in Armenia, still occupying a leading position in Armenian foreign investments. According to the Ambassador Extraordinary and Plenipotentiary of Argentina to the RA Mariano Vergara, the Chamber of Commerce will initially be based on a virtual application that will connect Argentinean and Armenian companies and entrepreneurs in real time.
"This new commercial instrument will be provided to the Armenian authorities on the occasion of the 30th anniversary of the independence of the Republic of Armenia," he said. At the same time, as the diplomat further indicated, special attention will be paid to young Argentine specialists who come to Armenia and seek to integrate into the local labor market. "Converse Bank is our partner in this initiative. We hope that the bank will take an active part and play an important role in the work of the Armenian-Argentine Chamber of Commerce, "he concluded.
The message also says that the establishment of diplomatic relations between Argentina and Armenia in 1992 reflected the high political dialogue and successful cooperation between the two friendly countries. In particular, it was noted that the Armenian Diaspora in Argentina, which from the very beginning has been taking an active part in the life of Argentine society, has made an invaluable contribution to the development of bilateral relations.
It should be noted that according to the data of the Customs Service of Armenia, in January-June 2021, Armenia reduced the export of goods to Argentina by 74.2% to $ 16.1 thousand. At the same time, imports decreased by 79.6% to $ 1.5 million. According to the Statistical Committee of the Republic of Armenia, the gross flow foreign investments from Argentina to Armenia as of January 1 for 2021 amounted to 306.7 billion drams ($ 587 million), of which FDI amounted to 164.6 billion drams ($ 315 million). Note that on an annual basis, the dynamics for these two indicators is negative.
