Foreign Affairs and International Trade, Canada
Dec 27 2006
Armenia eyes B2B opportunities with Canada
Toronto, January 18-20, 2007 > Armenia may be off the radar for many
Canadian exporters, but that just may change with Expo 2007, a
business-to-business exposition that is expected to attract hundreds
of Armenian exporters.
Today, the former Soviet republic boasts one of the fastest growing
markets in the Caucasus region, due in part to major economic
reforms.
`Armenia has one of the most liberal trade regimes in the world,’
says Vahram Pirjanian, President of the Canada Armenia Business
Council (CABC). This status is especially noteworthy given the
country’s hardships as a result of the collapse of the Soviet Union
in 1991. After the collapse, the economy was hit hard and its gross
domestic product per capita fell by 75%.
But 1994 marked a turning point, when Armenia’s government revamped
its fiscal and monetary policies which put the country on the road to
economic recovery.
And Canada has started to reap the benefits of this reform.
Information technology is one of Canada’s leading exports to Armenia
and Armenian exports to Canada are mainly comprised of finished
products and services such as jewellery, apparel, beverages and other
manufactured goods.
But Pirjanian believes more can be done to deepen Canada-Armenia
trade relations.
`In the past, questions always revolved around Armenia’s political
environment. Now, we are asked how and where to make investments in
Armenia. It is possible to invest in and trade with Armenian
businesses and make a profit, create jobs and increase exports. The
participation of so many businesses and representatives at Expo 2007
is a clear indication that greater trade opportunities exist.’
For more information, contact:
Vahram Pirjanian
CABC
Tel.: (416) 574-6704
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