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Armenia hopes to soon abandon U.S. list of export controlled countries

Armenia hopes to soon abandon U.S. list of export controlled countries

PanARMENIAN.Net - Yerevan is hopeful to conclude an agreement with the United States that will remove Armenia from the U.S. list of export controlled countries, Sputnik cited Armenian Ambassador to the United States Grigor Hovhannissian as saying.

"We have a couple of agreements in the legal field that we would like to finalize for signing about double taxation and removing Armenia from the list of export controlled countries," Hovhannissian said on Tuesday, June 27.

Hovhannissian pointed out that the Information Technology (IT) sector is successfully developing in Armenia.

"We would like to prepare a framework agreement for signing for our [United States and Armenia] next meeting. We have discussed it with the Americans. We are working on that," the Ambassador added. "In October, we will join a U.S.-Armenia intergovernmental working group meeting, and this framework agreement is on its agenda."

In 2015, Washington and Yerevan signed a Trade and Investment Framework Agreement (TIFA) tailored to help the parties identify areas conducive to the development of mutual trade and investments.

U.S. Exports to Armenia totaled to $43.6 million, while imports totaled to $42.6 million, according to the United States Census Bureau.

Hovhannissian also said that Armenia hopes Washington understands Yerevan’s position to develop good relations with both the United States and Russia.

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