THERE ARE POSSIBILITIES OF ARMENIAN-CZECH TRADE AND ECONOMIC COOPERATION IN SPHERES OF MEDICINES, CERAMICS PRODUCTION, BANKING, AND TOURISM

NOYAN TAPAN

Ju ly 7

Czech and Armenian companies have possibilities of organizing joint
production of medicines and ceramics.

Besides, there are prospects of developing cooperation in banking
and tourism spheres. Karel Schwarzenberg, the Foreign Minister of
Czech Republic, stated at the July 7 Armenian-Czech business forum
organized at the Armenian Development Agency (ADA).

According to K. Schwarzenberg, the potential and possibilities of
strengthening trade and economic relations between the two countries
have not been used properly so far. He said that trade circulation
between Armenia and Czech Republic is less than 1% general trade trade
circulation of Czech Republic. In 2007 exports from Czech Republic
to Armenia amounted to nearly 16m USD.

RA Foreign Minister Edward Nalbandian said that he has reached a
number of agreements to activize Armenian-Czech trade and economic
relations with K.

Schwarzenberg. It was mentioned that a number of banks with foreign
capital function in Armenia at present, and Czech banks also have a
possibility to enter this sphere. E. Nalbandian certified that the RA
Foreign Ministry is ready to support Armenian and Czech businessmen’s
joint initiatives and programs.

Robert Haroutiunian, the Director General of the Armenian Development
Agency, said that 17 enterprises with Czech capital function in Armenia
at present. According to his data, the share of Czech Republic in
the total trade circulation of Armenia makes only 0.3%. In 2007 trade
circulation between Armenia and Czech Republic made 18.2m USD against
7.7m USD in 2004.

In 2007 the exports volume from Armenia to Czech Republic made 2.3m
USD against 0.05m USD in 2004. The imports volume of Czech goods to
Armenia made 15.9m USD in 2007 against 7.65m USD in 2004.

Molybdenum concentrate, ferromolybdenum, crayfish, pottery and wooden
wares, handmade carpets, diamond, furniture parts are mainly exported
from Armenia to Czech Republic. Confectionery, beer, foodstuffs,
medicines and medical equipment, plastic goods, paper, textile goods,
clothes, ceramic tiles, table-ware, gas stoves, liquid and gas pumps
are imported from Czech Republic to Armenia