Friday, September 15 2023 18:16

ArmInfo.The Ministry of Economy of Armenia is establishing working relations with the German  SME Association. This was reported by the press service of the Armenian Economic Ministry, referring to the results of the meeting between Minister Vahan Kerobyan and Reinhold von Ungern-Sternberg,  manager of the business sector of the German Association for Small and Medium-sized Enterprises -BVMW.

According to the source, the meeting took place within the framework  of Armenia's participation in the investment management exhibition in  Frankfurt. The parties agreed to exchange information about the  potential of the economic sector and instruments of government  support, which will allow German companies to become familiar with  the prospects for cooperation with Armenian business.  It is reported  that Vahan Kerobyan presented the head of the German BVMW with high  indicators of economic growth in Armenia, which, according to him,  were due to the reforms carried out by the state.  The minister also  spoke about successes in the trade sector. Informing that a large  number of foreign companies relocated to Armenia last year, he  suggested the German side to consider the possibilities of working in  the Armenian market.

According to the Ministry of Economy of Armenia, the Association  includes 60% of the country's employees.  It should be noted that  according to RA statistical data, foreign trade turnover between  Armenia and Germany in January-July 2023 increased by 67.9%,  providing a volume of $393.9 million. At the same time, exports  decreased by 20.1% to $51.6 million, with a 2-fold increase in  imports up to $342.3 million.