Armenia is interested in Iraq’s large market- Economy Minister
06.09.2012,
14:51
Iraq is a large country, it has a large market and Armenia is interested in it, particularly exporting its products, Economy Minister Tigran Davtyan said at the joint press conference with Iraq’s Deputy Prime Minister Rowsch Nuri Shaways on Thursday.
YEREVAN, September 6. /ARKA/. Iraq is a large country, it has a large market and Armenia is interested in it, particularly exporting its products, Economy Minister Tigran Davtyan said at the joint press conference with Iraq’s Deputy Prime Minister Rowsch Nuri Shaways on Thursday.
“We will be able to export our industrial and agricultural products to Iraq’s market,” Mr. Davtyan said before the beginning of the first Armenian-Iraqi business forum.
According to the Minister, cooperation with Iraq will open new opportunities for Armenia, as Iraq has quite serious development programs, and Armenia should not stay away from participating in them.
The Iraqi delegation, headed by Rowsch Nuri Shaways, also includes Ministers of Economy, Industry and Mineral resources, Health, Agriculture and Human Rights, Head of the National Investment Agency and other officials.
“I believe our cooperation with Iraq has quite serious perspectives and this visit can foster it. We are entering the phase of serious work,” the Minister underlined.
The businessmen from Iraq represent different economy sectors, such as construction, pharmaceutics, textile, tobacco industry, fuel. During the visit they will meet the Armenian businessmen and will take a tour around plants.
“Upon arriving here we saw that friendly Armenia is really seeking to develop cooperation with Iraq, especially economic cooperation,” Iraq’s Deputy PM said on his side.
He noted that the sides have serious opportunities to develop tourism and commerce cooperation.
He added that Iraq’s economic opportunities are huge, and it is necessary to develop them. Iraq is on the initial stage of recovering, that is why there are a lot of opportunities to invest in Iraq and to work with the State and private structures, he said.
In 2007-2010 the foreign trade turnover between Armenia and Iraq was $0.7 million, of it export was $0.6 million, and import- $0.1 million. However, in 2011 the trade turnover between the two states rose 25 times to $19.8 million, of it export- $4.9 million, and import- $14.9 million.
In 2011 Armenia exported to Iraq cigarettes and tobacco items (84.9%), and ferrous metals (14.1%). Iraq exported to Armenia fuel raw materials, oil, oil products, bituminous materials (99.9%), electrical machines and equipment (0.1%). -0-
