ArmInfo. The Minister of Economy of Armenia, Gevorg Papoyan, called on Greek businesses to make use of the benefits offered by the Armenian government to foreign investors. He made this statement on December 17 on the sidelines of the signing of a memorandum during the sixth meeting of the Intergovernmental Commission on Economic, Industrial and Scientific-Technical Cooperation between Armenia and Greece.
In particular, the head of the Armenian Ministry of Economy presented the government's program for the production of complex products. He highlighted the positive experience of Greece in this area and pointed out that Armenia offers attractive conditions for companies interested in producing complex products, including a 35% return on investment. Papoyan also mentioned that during the Intergovernmental Commission meeting, the topic of accelerating the process of enhancing the quality of Armenian goods to meet European standards was discussed with the Greek representative. In this regard, he noted the existence of three programs designed to boost the production.
At the same time, he emphasized that the main export from Armenia is aluminum foil, while other finished products are supplied in small volumes. On the other hand, the main import to Armenia is finished goods related to petroleum products. "Unfortunately, at the moment, the import of Greek goods to Armenia exceeds the export of Armenian products to Greece," Papoyan emphasized, adding that the volumes and presence of capital in the economies of the two countries are still far from their expectations. Papoyan also noted the presence of great opportunities in the high-tech industry and highlighted that a number of well-known American companies are active in both the Greek and Armenian economies.
According to him, this could to lead interesting opportunities for organizations from both countries to expand into the European market. "Our challenge in business relations with these companies is to not restrict ourselves to the Armenian consumer. What we offer is not just for Armenians in the US, Armenia or Russia, but for all citizens of these countries. In this context, Armenia is as welcoming to outsiders as it is to its own citizens," the minister noted.
