YEREVAN, October 17. / ARKA /. The head of the Armenian Development Agency (ADA) Robert Harutyunyan told reporters today that Armenia and Argentina may establish a joint textile company in the near future.
He said the parties had conducted some talks and are expected to sum up their results in a couple of months.
Armenian textile products are already exported to Argentina, but in very small quantities.
According to Harutyunyan, the statistics show that exports from Armenia to Argentina are very small, and therefore the main objective of the ADA is to find new ways to take Armenian goods to the Argentine market .
According to the National Statistical Service of Armenia, Argentina was the largest foreign investor in the Armenian real economy sector in the first half of this year ($76 million), more than a ten times increase from the year before. Moreover, FDI from Argentina increased by 67.2 % to $8.2 million.
The bulk of investments ($ 72.3 million) went to air transport, $565,000 to construction and $3.3 million to crop production and cattle breeding. -0-