Armenia and France interested in boosting bilateral ties- minister

|

USD

391.74

EUR

426.88

RUB

4.5721

GEL

141.28

Economy

14.05.2014, 15:34

France is the second largest foreign investor in the Armenian economy, Armenian economy minister Karen Chshmarityan said at an Armenian-French business forum in Yerevan on Tuesday, saying also that there are more than 100 companies in Armenia with French capital, which he described as an indication of a high level of confidence in Armenia.

Armenia and France interested in boosting bilateral ties- minister

YEREVAN, May 13. / ARKA /. France is the second largest foreign investor in the Armenian economy, Armenian economy minister Karen Chshmarityan said at an Armenian-French business forum in Yerevan on Tuesday, saying also that there are more than 100 companies in Armenia with French capital, which he described as an indication of a high level of confidence in Armenia.

He commended the forum saying such events are of paramount importance in terms of benefiting Armenia’s economy and French entrepreneurs.

French investments in the Armenian economy stand currently at nearly $1.1 billion. Armenia’s trade turnover with France in 2013 amounted to $70.78 million, 1.8 percent down from the previous year. In the first quarter this year it was 1 percent down from the year before standing at $13.22 million.

According to Armenian minister, Armenia is pursuing an open economic policy in order to attract more foreign investments. It has also implemented a series of reforms to boost business development.

He said in the latest Doing Business ranking of the World Bank and the International Finance Corporation (IFC) Armenia was ranked 37th , located between Belgium (36) and France (38) and ahead of Cyprus, Poland, Spain , Luxembourg and Italy.

The government has also set up centers to help manufacturing companies. It has also established two free economic zones.

The Armenian-French economic forum was held in Yerevan as part of the two-day state visit to Armenia by French President Francois Hollande. It was organized by the Armenian Development Agency together with the Embassy of France in Armenia and the Yerevan Brandy Company and ACBA -CREDIT AGRICOLE BANK. -0 -

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00

Armenia's position in the “2025 index of economic freedom significantly worsens”

Armenia ranked 57th out of 184 countries in the 2025 Index of Economic Freedom, published by the Heritage Foundation.

12.03.2025 12:25

Freight traffic in Armenia grew by 12.9% in January, passenger traffic declined by 20.8%

The total freight traffic in Armenia in January 2025 amounted to 1,117.6 thousand tons, increasing by 12.9% compared to January 2024, while the total passenger traffic amounted to 12,728.6 thousand with a 20.8% decline, according to the National Statistical Committee.

10.03.2025 17:22

Risk assessment and portfolio diversification: CEO of Armenian company Cube Invest about myths and real features of investing

To form a successful investment portfolio, two main steps should be highlighted, said Mikael Margaryan, CEO and Chairman of the Board of Directors of the investment company Cube Invest.

10.03.2025 13:53

Service sector in Armenia grows by 12.6% in the first month of 2025, exceeding 280 billion drams

The volume of the service sector in Armenia in January 2025 amounted to 280,031.8 million drams (at current prices), showing an increase of 12.6% compared to January 2024 and 19.7% compared to December 2024.

10.03.2025 13:03

Domestic trade turnover in Armenia in January amounted to 39 billion drams with a growth of 9.9%

Domestic trade turnover in Armenia in January 2025 amounted to 379,155.1 million drams (at current prices), marking an increase of 9.9% compared to January 2024 and a decrease of 51.8% compared to December 2024, according to the National Statistical Committee of Armenia.

10.03.2025 12:14

Inflation in Armenia reaches the Central Bank’s target range – EDB

Inflation has reached the target range set by the Central Bank of Armenia, according to the weekly macroeconomic review by the Eurasian Development Bank (EDB).

10.03.2025 10:29