Armenia, Japan to deepen economic cooperation

ArmInfo. Armenia and Japan intend to deepen economic cooperation. This is evidenced by the  results of the meeting between Armenian Minister of Economy Vahan Kerobyan and Mr. Norihiko Ishiguro, Chairman and CEO of Japan External Trade Organization (JETRO).

At the meeting, the parties discussed practical issues aimed at the  development of Armenian-Japanese economic relations and increasing  the volume of trade.  Vahan Kerobyan presented the investment  attractiveness of Armenia, the easy conditions for doing business and  the increasingly liberal legislation, and emphasized the need to  raise the awareness of Japanese businessmen about all this.  Norihiko  Ishiguro expressed his willingness to provide all support to the  Armenian side in this matter, as well as assist Armenia in conducting  joint business events.

The parties discussed a number of issues related to Armenian-Japanese  trade and economic relations and agreed to pursue the implementation  of the agreements reached.

JETRO, or the Japan External Trade Organization, is a  government-related organization that works to promote mutual trade  and investment between Japan and the rest of the world. Originally  established in 1958 to promote Japanese exports abroad, JETRO's core  focus in the 21st century has shifted toward promoting foreign direct  investment into Japan and helping small to medium size Japanese firms  maximize their global export potential.

According to statistical data, foreign trade turnover between Armenia  and Japan in January-September 2023 increased 3.8-fold, amounting to  $297.4 million. At the same time, exports increased by 1.1% to $2.2  million, against the backdrop of a 2.9-fold increase in imports to  $295.2 million.