Armenian-US relations are on higher level now, minister says
05.09.2018,
12:30
Armenian Economic Development and Investments Minister Artsvik Minasyan praised today the Armenian-American relations, saying they were now at a higher level.
YEREVAN, September 5. /ARKA/. Armenian Economic Development and Investments Minister Artsvik Minasyan praised today the Armenian-American relations, saying they were now at a higher level.
Speaking on the sidelines of a one-day conference that was focused on franchise business opportunities in Armenia, Minasyan said the positive history of American investments in Armenia gives hope that new investments would be made in high technology , light industry, services and other sectors.
Minasyan said adoption of the Armenian-US agreement on elimination of double taxation would open up new prospects for boosting trade relations between the two countries. Armenian government argues that elimination of the threat of double taxation would both remove an artificial barrier to American investment in Armenian economy and also incentivize businesses from both nations to explore new avenues for cooperation.
Negotiations on eliminating double taxation between Armenia and the United States have been going on for over 20 years. The US explains its refusal to conclude the agreement by the fact that an agreement signed between the US and the USSR is still in effect.
The Armenian side insists that this agreement is outdated, especially that the independent Armenia is not the legal successor to the former USSR. The US explains its refusal also by the fact that American companies do not face the problem of double taxation in Armenia. However, according to the Armenian side, the problem lies in the fact that the absence of such an agreement hampers mutual investments.
According to US Ambassador to Armenia Richard Mills, today there are real opportunities for business and trade, and that US will support the Armenian government in its efforts to improve the business environment. However, he noted the fragility of Armenia's investment environment, saying one wrong decision, one wrong step can scare investors.
Today’s event was a joint initiative of the U.S. Embassy in Yerevan and the U.S. Commercial Service in Moscow, partnered by IDBank. It was part of an ongoing effort to foster trade and investment between the United States and Armenia. -0-
Speaking on the sidelines of a one-day conference that was focused on franchise business opportunities in Armenia, Minasyan said the positive history of American investments in Armenia gives hope that new investments would be made in high technology , light industry, services and other sectors.
Minasyan said adoption of the Armenian-US agreement on elimination of double taxation would open up new prospects for boosting trade relations between the two countries. Armenian government argues that elimination of the threat of double taxation would both remove an artificial barrier to American investment in Armenian economy and also incentivize businesses from both nations to explore new avenues for cooperation.
Negotiations on eliminating double taxation between Armenia and the United States have been going on for over 20 years. The US explains its refusal to conclude the agreement by the fact that an agreement signed between the US and the USSR is still in effect.
The Armenian side insists that this agreement is outdated, especially that the independent Armenia is not the legal successor to the former USSR. The US explains its refusal also by the fact that American companies do not face the problem of double taxation in Armenia. However, according to the Armenian side, the problem lies in the fact that the absence of such an agreement hampers mutual investments.
According to US Ambassador to Armenia Richard Mills, today there are real opportunities for business and trade, and that US will support the Armenian government in its efforts to improve the business environment. However, he noted the fragility of Armenia's investment environment, saying one wrong decision, one wrong step can scare investors.
Today’s event was a joint initiative of the U.S. Embassy in Yerevan and the U.S. Commercial Service in Moscow, partnered by IDBank. It was part of an ongoing effort to foster trade and investment between the United States and Armenia. -0-
