Armenia and UK have potential to expand their ties

YEREVAN, March 11. / ARKA /. Armenian president Serzh Sargsyan and Simon Fraser, permanent undersecretary in the UK Foreign and Commonwealth Office, believe that Armenian-British trade and economic relations have a great potential for expansion.

The press service of the Armenian president reported that the two men at their meeting today in Yerevan spoke about trade turnover between Armenia and the United Kingdom which they said was unsatisfactory if compared with the existing potential. They were said also to have discussed opportunities to promote economic cooperation.

Upon Mr. Fraser’s request, Serzh Sargsyan spoke about the investment and business environment in Armenia, about ongoing economic reforms as well as about future development programs.

Mr. Fraser, on behalf of his government, pledged the UK’s continued contribution to the process of reforms in Armenia.

According to the National Statistical Service of Armenia, Armenia's foreign trade with the United Kingdom in January 2013 rose to $17.7 million, an increase of almost 4 times compared to the same period of 2012. -0-