Italian trade and investment agency to open in Armenia

YEREVAN, February 5. /ARKA/. The opening of the Italian Trade and Investment Agency (Agenzia ICE) is planned in Armenia, announced the Ambassador Extraordinary and Plenipotentiary of Italy to the Republic of Armenia, Alessandro Ferranti, during a meeting with the Minister of Economy of Armenia, Gevorg Papoyan.
"We are ready to do everything possible to strengthen the economic ties between Armenia and Italy," the press service of the Ministry of Economy quoted Papoyan as saying.
The interlocutors discussed issues related to the most promising areas in the economic sphere between Armenia and Italy, opportunities for export and import within the framework of economic diversification, increasing the volume of bilateral trade, modernizing technologies, and implementing measures aimed at expanding trade and economic relations.
Among other topics, the prospects for expanding cooperation in the field of tourism were also addressed.
According to data from Armenian Statistical Committee, for the first 11 months of 2024, foreign trade turnover between Armenia and Italy amounted to $382.4 million, showing a slight increase of 0.1% compared to January-November 2023. Exports totaled $61.2 million (a 4.4% increase), while imports from exporting countries reached $309.4 million (a 5.3% increase). However, imports from the manufacturing country decreased by 0.7%, totaling $321.1 million.