Trade between Armenia and U.S. grows 35% year-on-year

PanARMENIAN.Net - Trade between Armenia and the United States grew by 35% in January - October of 2017 year-on-year, totaling $99.5 million, the U.S. embassy in Yerevan said in a tweet.

"Armenia’s successful exports to the U.S. is its excellent usage of the Generalized System of Preferences (GSP) that allows many of Armenia’s goods duty free entry into the U.S.," the embassay said.

The Armenian National Committee of America (ANCA) has repeatedly called for negotiating a U.S.-Armenia Double Tax Treaty to promote the growth of economic relations between the two countries.

The outdated forty-year-old 1973 U.S.-USSR Tax Treaty is recognized by the U.S. but not Armenia. Yerevan has repeatedly sought to replace this obsolete accord.