ARMENIA AND USA DISCUSS POSSIBILITY OF SIGNING OF FREE TRADE AGREEMENT

ArmInfo
2009-05-13 13:16:00

ArmInfo. Armenia and USA are discussing a possibility of signing
of a free trade agreement. This issue is one of the prime ones to
be discussed during Wednesday meeting of the working group of the
Armenian-American intergovernmental Commission in Yerevan, Armenian
Co-chairman of the Commission, Economy Minister of Armenia Nerses
Yeritsyan told journalists.

He said a new trade policy is formed between the countries, that will
allow to make the American market available for the Armenian goods
and will stimulate inflow of investments. According to the minister,
a similar free trade agreement was signed between Armenia and EU. He
added that the working group’s meeting agenda includes the programmes
of regional cooperation, discussion of the "Millennium Challenges"
assistance programme, US programme of assistance in creation of a
National Center for Entrepreneurship and Innovation in Armenia, opening
of a representation of the Armenian IT enterprises in Silicon valley.

According to the data of Armenia’s Economy Ministry, the total volume
of the American investments in Armenia in 1991-2008 made up $299,7 mln,
including the direct foreign investments to the sum of $198,7 mln. The
investments in 2008 made up $30,2 mln, including the direct foreign
investments – $17,7 mln. As of January 1, 2009, 536 enterprises
with the share of the American capital have been registered in
Armenia. Export of the Armenian goods to the USA in 2008 grew by 2,7%
to $52,8 mln as compared to 2007, and import from the USA grew by 48,6%
to $219,8 mln. The Armenian export mainly includes mineral and natural
waters, wines, synthetic rubber, jewelry and stones, while grain,
feeding stuff, cloth and sausages prevail in the American export.