Armenia and Iraq to encourage mutual investments
20.06.2016,
15:24
The Armenian parliament ratified last Friday an agreement signed between Armenia and Iraq in Baghdad on 7th of November 2012 on mutual encouragement and protection of investments.
YEREVAN, June 20. /ARKA/. The Armenian parliament ratified last Friday an agreement signed between Armenia and Iraq in Baghdad on 7th of November 2012 on mutual encouragement and protection of investments.
According to Deputy Minister of Economy GareginMelkonyan, in accordance with the agreement the parties undertake to encourage and create favorable conditions for investment in their respective countries.
"The parties will have to ensure equitable investments regime for the other side, their full protection, as well as not to interfere with the use, management, application , expansion of investments or other transactions aimed at management of investments," said Melkonyan.
He said in 2012 the Armenian-Iraqi trade stood at $49 million. In 2014 Armenian exports to Iraq surged to $80 million and in 2015 the bilateral trade rose to $132 million, of which $130 million were Armenian exports.
"The trade surplus is obvious with annual growth of 30-40%. The first quarter shows a growth trend and it is expected that in 2016 the volume of trade will be greater than in 2015," Melkonyan said. According to him, Armenian exports to Iraq comprise cigarettes, alcoholic beverages and agricultural products. -0-
According to Deputy Minister of Economy GareginMelkonyan, in accordance with the agreement the parties undertake to encourage and create favorable conditions for investment in their respective countries.
"The parties will have to ensure equitable investments regime for the other side, their full protection, as well as not to interfere with the use, management, application , expansion of investments or other transactions aimed at management of investments," said Melkonyan.
He said in 2012 the Armenian-Iraqi trade stood at $49 million. In 2014 Armenian exports to Iraq surged to $80 million and in 2015 the bilateral trade rose to $132 million, of which $130 million were Armenian exports.
"The trade surplus is obvious with annual growth of 30-40%. The first quarter shows a growth trend and it is expected that in 2016 the volume of trade will be greater than in 2015," Melkonyan said. According to him, Armenian exports to Iraq comprise cigarettes, alcoholic beverages and agricultural products. -0-
