ArmInfo. Armenia and Portugal will sign an economic cooperation agreement. The RA government approved the signing of the relevant document at its meeting on June 4.
The rationale for the draft decision notes that Portugal and Armenia possess enormous potential for bilateral trade and economic cooperation and the strengthening of interstate ties in virtually all economic sectors of mutual interest.
The agreement will create an opportunity to expand and diversify mutually beneficial economic cooperation in all sectors related to economic development, such as tourism, energy and energy efficiency, agriculture, environmental protection, transport and infrastructure, information and telecommunications technology, science and technology, and others.
The agreement will contribute to the achievement of the Sustainable Development Goals (SDGs) by adopting the 2030 Agenda for Sustainable Development and the Paris Agreement on Climate Change as the overarching framework guiding the partnership.
The latter also provides an opportunity to facilitate communication between government agencies of the two countries, economic policy decision-makers, professional organizations, and business associations, as well as to promote and strengthen cooperation between chambers of commerce and organize visits by their representatives and other economic delegations.
The agreement also provides for the exchange of business information on specific cooperation opportunities, encouragement of participation in exhibitions and fairs, organization of business events, seminars, conferences and forums, promotion of more active participation of small and medium-sized private enterprises in bilateral economic relations, stimulation of investment activities, creation of joint ventures and branches of companies and other formats agreed by the parties, promotion of interregional cooperation and cooperation at the international level on issues of mutual interest, creation and development of engineering and robotics laboratories, as well as exchange of experience in the implementation of joint programs and cooperation in the markets of third countries.
