Armenia can become a trade bridge between neighboring countries

PanARMENIAN.Net - In the first half of 2010, foreign investments in the Armenian economy totaled $327.5, which is 4.9% more compared to the same period in 2009.

Specifically, Iranian entrepreneurs show greater interest in Armenia.

Currently, Iran is the second after Russia (1000 companies) by the number of enterprises with Iranian capital (818 companies) in Armenia. There are favorable conditions for unhindered inflow of Iranian investments, as the Armenian authorities pursue a free economic policy with liberal laws. Moreover, the Armenian Diaspora of Iran also contributes to the development of bilateral relations.

The trade turnover between Armenia and Iran amounted to USD 153mln in 2009. Aluminum, iron, steel, organic and non-organic components are exported from Armenia while plastics, items made of it, glass, etc are imported.

Iranian Minister of Energy Majid Namjou arrived in Armenia on a two-day visit this week. He met with Armenian Minister of Energy and Natural Resources Armen Movsisyan to discuss bilateral cooperation outlooks.

The two ministers signed three documents: memorandum of understanding between the two ministries, memorandum of ecological norms observance on the common border and Arax river, as well as draft agreement on construction, management, exploitation and transfer of Meghri hydropower plant.

Besides, Yerevan hosted an Armenian-Iranian business forum with participation of an Iranian delegation of 22 companies, including representatives of the industrial field, who also met with representatives of Armenian companies, as well as the RA Ministries of Energy, Agriculture, Transport and Communication, Urban Development, Economy, Armenian Chamber of Commerce and Industry and Armenian Development Agency (ADA).

Representative of the Iranian Trade and Investment Agency, Director of ENN simplex Seyed Babaei announced the intention to open the Agency’s branch in Yerevan.

Slovenia also showed interest in Armenia’s investment potential. In 2009, the trade turnover between the two countries amounted to $9.5mln, with almost zero export from Armenia. Slovenia exported pharmaceutical goods, ethyl alcohol, perfume, cosmetics, etc.

Armenian-Polish relations also tend to develop. Polish Ambassador to RA Zdzislaw Raczynski said he is resolved to attract Polish investors to Armenian market.