TWO BILLS ON DEVELOPMENT OF COMMERCIAL POTENTIALITIES OF ARMENIA ON US CONGRESS AGENDA

PanARMENIAN.Net - A bill providing for granting Armenia a duty-free outlet to the US market presented by US Congressman Cal Dooley is on the agenda of the House of Representatives. The given draft will also let expand the number of commodities produced in Armenia, which have tariff preferences when being imported to the US. As noted by the Armenian Assembly of America (AAA), that document followed a bill presented by co-chairs of the US Congressional Caucus on Armenian Issues Joe Knollenberg (R-MI) and Frank Pallone (D-NJ), which provides for establishment of permanent US-Armenian trade relations. These initiatives, as well as Armenia's accession to the World Trade Organization, in the AAA opinion, will let compensate for the negative economic impact of the blockade against Armenia held by Turkey and Azerbaijan. According to the Assembly data the commodity turnover between Armenia and the US made $134 million in 2002.