Tuesday, July 30 2024 13:14

ArmInfo. Since 2015, over 500 Armenian entrepreneurs have taken part in the Armenian-American business bridge program to stimulate bilateral ties, as a result of which the volume of their export supplies to the US market has increased by 73%. This was reported by the Chairperson of the Council for the Promotion of International Relations Mariam Manukyan during a press conference on July 30.

She noted that the products of our manufacturers are presented not only in the network of Armenian stores, but also in the network of American retail and wholesale stores, such as Target, Walmart, Johnson's. We are mainly talking about canned goods, wines, chocolate. Representatives of medium and large businesses with an annual turnover of at least 50 million drams and engaged in business for at least 3 years can participate in such programs.

At the same time, Manukyan reported that not only Armenian manufacturers are represented on the American market, but also companies providing services in the field of IT, water management, alternative energy, marketing, etc.

The head of the Council noted that their work is not limited to this.  In particular, according to her, a preliminary agreement has already been reached with the Ministry of Economy to hold an event at the end of the year, the so-called business bridge to the United States, where American investors will be presented with investment opportunities and the potential for cooperation with Armenia.

"Our manufacturers have great potential, but do not have the ability to expand cooperation, increase the volume of supplies, which deprives us of the opportunity to cooperate with large US retail chains," Manukyan emphasized. It should be noted that according to the RA Statistical Committee, foreign trade turnover between Armenia and the United States in January-May 2024 decreased by 37.2%, amounting to $193 million. At the same time, exports increased by 22.4% to $24 million, while imports decreased by 41.2% to $169 million.