U.S. companies may boost their presence in Armenia, ambassador
17.11.2015,
14:26
US companies can boost their presence in Armenia in case of favorable conditions, US ambassador to Armenia, Richard Mills, said today before the opening of the first session of the Armenian-US Council on Trade and Investment in Yerevan.
YEREVAN, November 17. /ARKA/. US companies can boost their presence in Armenia in case of favorable conditions, US ambassador to Armenia, Richard Mills, said today before the opening of the first session of the Armenian-US Council on Trade and Investment in Yerevan.
According to him, it is important that investors from different countries are provided in Armenia with equal opportunities and be treated by the government and the justice system equally.
He said the purpose of such meetings is to create an environment in Armenia that will boost the investment attractiveness of the country. "No one can make American entrepreneurs invest in Armenia. The same applies to Armenian investments in the US," the diplomat said.
He said the official representatives of Armenia and the United States will discuss during the meetings the reasons that may hinder their trade, as well as taxation, licensing and several other issues
The Armenia-US Council for Trade and Investment was established on the basis of the Trade and Investment Framework Agreement (TIFA) signed by Armenian foreign minister Edward Nalbandian and U.S. assistant trade representative Daniel Mullaney during Armenian president Serzh Sargsyan’s visit to Washington in May 7, 2015.
Under the agreement, the joint Council on Trade and Investment is to meet at least once a year to address obstacles to U.S.-Armenian trade and explore other ways of deepening economic ties between the two countries.
According to Armenian government statistics, the U.S. accounted for about 4 percent of Armenia’s foreign trade last year. The total volume of bilateral commercial exchange fell by 2.5 percent to $221 million.
Today’s meeting was attended by Armenian economy minister Karen Chshmarityan, deputy US trade representative Betsy Hafner, US ambassador Richard Mills, other officials, as well as some 60 business people. -0-
According to him, it is important that investors from different countries are provided in Armenia with equal opportunities and be treated by the government and the justice system equally.
He said the purpose of such meetings is to create an environment in Armenia that will boost the investment attractiveness of the country. "No one can make American entrepreneurs invest in Armenia. The same applies to Armenian investments in the US," the diplomat said.
He said the official representatives of Armenia and the United States will discuss during the meetings the reasons that may hinder their trade, as well as taxation, licensing and several other issues
The Armenia-US Council for Trade and Investment was established on the basis of the Trade and Investment Framework Agreement (TIFA) signed by Armenian foreign minister Edward Nalbandian and U.S. assistant trade representative Daniel Mullaney during Armenian president Serzh Sargsyan’s visit to Washington in May 7, 2015.
Under the agreement, the joint Council on Trade and Investment is to meet at least once a year to address obstacles to U.S.-Armenian trade and explore other ways of deepening economic ties between the two countries.
According to Armenian government statistics, the U.S. accounted for about 4 percent of Armenia’s foreign trade last year. The total volume of bilateral commercial exchange fell by 2.5 percent to $221 million.
Today’s meeting was attended by Armenian economy minister Karen Chshmarityan, deputy US trade representative Betsy Hafner, US ambassador Richard Mills, other officials, as well as some 60 business people. -0-
