ArmInfo.On February 27, the Government of Armenia approved the draft decree of the President of the Republic of Armenia on approving the Agreement on Economic Cooperation between the Government of the Republic of Armenia and the Government of the Republic of Hungary.
As stated in the explanatory note to the document, the Agreement on Economic Cooperation between the Governments of Armenia and Hungary provides an opportunity to develop and deepen long-term economic relations between the two countries on the basis of equality and mutual benefit in such areas as trade, pharmaceutical industry, tourism, energy, transport and logistics, agriculture and forestry, scientific research and innovation, environmental protection and water resources management, as well as in other areas of cooperation of mutual interest.
The Agreement is a standard Agreement of an economic nature, which is aimed at developing mutually beneficial cooperation between the two countries, creating favorable conditions for expanding economic ties, increasing business activity, and using the potential of the two countries in the field of economic cooperation. The Government of the Republic of Armenia has concluded agreements of similar content with many countries.
The Agreement provides for the development and diversification of mutually beneficial cooperation in all sectors of the economy of mutual interest.
The document also provides for the establishment of a joint intergovernmental economic commission between the Republic of Armenia and Hungary to coordinate and develop bilateral trade and economic cooperation.
