Armenian - Iraqi trade amounts to more than $50 million in nine months

YEREVAN, November 7, / ARKA /. Armenian-Iraqi trade amounted to more than $50 million at the end of September, according to a deputy Armenian economy minister Tigran Harutyunyan, who spoke today at the opening of an Armenian-Iraqi business forum in Yerevan.

"Given that Iraq's foreign trade turnover reached $134 billion, Armenian- Iraqi trade is just a drop in the vast sea, and we are able to make this drop a big flow," said Harutyunyan.

He said the Armenian government encourages export of industrial products, particularly, pharmaceuticals, biotechnology and jewelry.

Deputy prime minister Armen Gevorkyan, who is also the Armenian cochairman of the bilateral intergovernmental commission on economic cooperation, highlighted the development of transportation, particularly air communications between Armenia and Iraq and also the need to facilitate the visa regime.

"I believe this is a win-win question, because easier visa regime will not only facilitate communication between Armenian and Iraqi businesses, but also become an incentive for the development of tourism ," he said.

Iraqi deputy prime minister Rosh Nuri Shauwase , the Iraqi co-chair of the  intergovernmental commission, highlighted the cooperation between the private sectors, calling on members of the Iraqi delegation to use the visit to Armenia to establish close cooperation with Armenian colleagues .

The Iraqi delegation includes 50 government officials and about 70 business people. Armenian and Iraqi sides are expected to sign an agreement on cooperation in the field of construction.

According to the National Statistical Service of Armenia, Armenian exports to Iraq in 2012 amounted to $15.7 million. According to Armen Gevorkyan, in the first nine months of 2013 Armenian exports to Iraq rose to $30 mln. -0-