UAE investments to help Armenia economy reveal its potential- deputy minister

UAE investments to help Armenia economy reveal its potential- deputy minister

YEREVAN, June 3. / ARKA /. Investments from the UAE to Armenia will help disclose the latter’s  economic potential, a deputy economy minister Tigran Harutyunyan said today after commerce and industry chambers of the two countries signed a cooperation agreement in Yerevan.

He quoted prime minister Hovik Abrahamyan as saying earlier during the meeting with UAE business delegation that his government is ready to support foreign investors in Armenia. According to the deputy minister, this guarantee significantly reduces any potential investment risks.

He argued that Armenia’s 37th position on the World Bank’s Doing Business rating is a good condition for the agreement signed today to become a basis for subsequent joint projects.

He also recalled that the two countries had signed an agreement on investment protection. ‘Given this it is necessary to make every effort to direct investments from the UAE to the disclosure of the economic potential of Armenia ,”  said Harutyunyan.

The trade turnover between Armenia and the United Arab Emirates in 2013 amounted to $77.7 million. Armenian exports totaled $9.4 million. -0-

16:59 03.06.2014

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