Armenia-Lithuania economic cooperation memorandums to open new industrial and export opportunities

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Economy

23.03.2015, 20:26

The economic cooperation memorandums signed today by Armenia and Lithuania will open new industrial and export opportunities for Armenia, Arman Khachaturyan, CEO of the National Competitiveness Foundation of Armenia, told ARKA News Agency on Monday.

Armenia-Lithuania economic cooperation memorandums to open new industrial and export opportunities

YEREVAN, March 23. /АРКА/. The economic cooperation memorandums signed today by Armenia and Lithuania will open new industrial and export opportunities for Armenia, Arman Khachaturyan, CEO of the National Competitiveness Foundation of Armenia, told ARKA News Agency on Monday.

One of these cooperation memorandums was signed by the Lithuanian Confederation of Industrialists, the National Competitiveness Foundation of Armenia and the Union of Manufacturers and Businessmen (Employers) of Armenia, and the other was signed between the commerce and industry chambers of Yerevan and Vilnius.

«The documents signed by Armenia and Lithuania will spur new investments, and will lay grounds for creating new industrial capacity, new jobs and new room for export,» Khachaturyan said adding that both countries will benefit from these arrangements.

He said the arrangements create new opportunities for both Armenia and Lithuania, firs of all in terms of new investment in Armenia’s industrial sector, which will allow local companies to create new additional value or open new businesses to manufacture export-oriented products.

"Given the fact that Armenia is a full member of the Eurasian Economic Union enjoying all the available benefits of the trade bloc , in particular, with regard to export and import of raw materials, the signing of documents creates great opportunities for Armenian and foreign investors", he said.

The memorandums imply cooperation in various areas, including agriculture. ---0----

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