Armenia, China deepen economic cooperation

ArmInfo.The Union of Manufacturers and Businessmen of Armenia and the China Foreign Trade Center have signed a cooperation agreement in the economic sector.

According to the signed document, the parties undertake to promote  the establishment of mutually beneficial relations between the  business segment of Armenia and China, the expansion of long-term  bilateral cooperation, the implementation of joint projects, in  particular the organization of the China Import-Export Fair (Canton  Fair).

"The signed agreement will make it possible to get acquainted and  analyze in more detail the advantages of the Chinese market, the  possibilities of deepening bilateral cooperation, and increasing the  volume of mutual trade," said Arsen Ghazaryan, chairman of the Union  of Manufacturers and Businessmen of Armenia said.

It should be noted that according to the RA Statistical Committee,  the foreign trade turnover between Armenia and China in 2021  increased by 30.7%, exceeding $1.2 billion. At the same time, exports  increased by 35.7% to $393.2 million, while imports increased by  28.6% to $867 million.