Armenia and China poised to enhance trade turnover and mutual investments - joint statement
YEREVAN, August 31. /ARКА/. Armenia and China acknowledge the consistent growth of bilateral trade turnover in recent years and convey their willingness to exert efforts to further augment it, the parties said in a joint statement on the establishment of a strategic partnership, as provided by the press service of the Armenian government.
Among the initiatives to boost trade turnover are the encouragement of Armenian product exports and their penetration into the Chinese market, as well as attracting investments from Chinese enterprises to Armenia.
The parties express their commitment to enhance exchanges and collaboration to broaden trade and investment potential in sectors such as infrastructure, information technology, renewable energy sources, agriculture, and industry, among others.
The parties acknowledge the crucial role of the Intergovernmental Commission on Economic Cooperation in the ongoing development of trade and economic relations between Armenia and China and express their intention to continue holding regular meetings of the Commission while striving to comprehensively implement its decisions, for which both parties will elevate the level of the Co-Chairs of the Commission.
China appreciates Armenia's active involvement in the China International Import Expo, China Import and Export Fair, China International Expo for Trade in Services, World Digital Commerce Expo, China International Consumer Goods Expo, China International Expo for Small and Medium Enterprises, China International Investment and Trade Fair, and other significant exhibitions.
The Chinese side endorses the Armenian side in utilizing online platforms to promote and market high-quality products.
Armenia also welcomes the proactive participation of the Chinese side in international exhibitions and fairs conducted in Armenia, including EXPO Food and Drinks, ArmProd EXPO», «Build EXPO», «Industrial Armenia EXPO», «DigiTec Expo», «ArmHighTech Exhibition» and others.
The Parties convey their willingness to further enhance mutual investments to bolster collaboration in sectors such as industry, information and telecommunication technologies, agriculture, energy, etc., thereby promoting high-quality interaction.
The Parties indicate their readiness to deliberate on enhancing the legal framework within the trade and economic domain and are actively investigating the potential establishment of an institutional mechanism aimed at liberalizing and simplifying trade and investment processes. The Parties reaffirm their commitment to supporting the multilateral trading system grounded in the WTO and advocate for the incorporation of the Investment Facilitation for Development (IFD) Agreement into the WTO legal structure.
The Parties express their intention to intensify collaboration in the area of development and to create opportunities for the execution of a larger number of small and promising social initiatives in Armenia. Armenia extends its gratitude to China for its continuous technical support, which includes programs for human resource development.
The Parties express their commitment to enhancing cooperation in the tourism sector. Specifically, the Parties highly value the visa-free regime established between the two nations, which significantly aids in the advancement of tourism, fosters interpersonal connections, and broadens economic, social, and cultural relationships.
The Parties concur that the initiation of direct flights between the two countries acts as an additional motivator for collaboration in tourism. China welcomes Armenia's involvement in the annual China International Tourism Expo (CITM) and other tourism-related exhibitions. According to Armstat, in the first half of 2025, the trade turnover between Armenia and China reached $1.2 billion, reflecting a 15% decline compared to the same timeframe in 2024. Exports from Armenia to China totaled $288.3 million, marking a decrease of 59.6%.-0-
