EXHIBITION OF ARMENIAN PRODUCTION TO BE HELD IN ATHENS IN OCTOBER

Noyan Tapan
Mar 30 2006

YEREVAN, MARCH 30, NOYAN TAPAN. An agreement on cooperation was signed
on March 29 between the Union of Manufacturers and Businessmen of
Armenia (UMBA) and the Industrial Federation of Greece (IFG). The
agreement was signed by the UMBA Chairman Arsen Ghazarian and the IFG
Coordinator of International Relations Ioanis Patsiavos. According
to A. Ghzarian, the implementation of the agreement will enable
Armenian businessmen to enter the business information field of the
European Union and use the EU business infrastructures. The UMBA
Chairman said that the sides reached an agreement to organize an
exhibition of Armenian production and an Armenian-Greek business
forum in Athens in October, which will constitute a serious step
aimed at increasing the commodity turnover between the two countries
to 100 mln dollars in 1-2 years. According to the RA official data,
in 2004, the commodity turnover made 29.7 mln USD, in 2005 – about
26.1 mln USD. A. Ghazarian said that in 2005 the total amount of Greek
investments in Armenia made more than 150 mln USD, with the ArmenTel
company accounting for most of these investments. He noted that 25
companies with Greek capital are now operating in Armenia.