YEREVAN, AUGUST 31, ARMENPRESS. Governments of the Republic of Armenia and the People's Republic of China will sign an agreement of bilateral establishment of trade representations which was elaborated for the purpose of activating business initiatives between Armenia and China and for expansion of trade and economic ties. The Government of the Republic of Armenia approved signing the agreement. The Minister of Economy of the Republic of Armenia, Karen Chshmarityan, mentioned that the agreement will greatly foster economic development between Armenia and China as the trade representation is an important tool.

The Prime Minister of the Republic of Armenia, Hovik Abrahamyan, inquired if we have identical representations in other countries. Chshmarityan mentioned that there are trade representations in Brussels, Moscow and Washington.

“Armenpress” reports that Hovik Abrahamyan highlighted the dynamic activities of the representations and embassies mentioning, “Our aim is that those people make efforts and help the Ambassadors to attract investors, and try to foster the development of the economy”.

During the March 24-28, 2015 state visit of the President of the Republic of Armenia to China agreements were reached to expand and strengthen Armenian-Chinese economic cooperation and create friendly environment for the imports of goods, services, technologies and capital.

“In this context, establishment of trade representations will give an opportunity to better introduce the economic interests of the two countries. The establishment of trade representations will also give an opportunity to obtain information about the economic situation of China more operatively, as well as to report similar information to interested bodies of China”, reads the explanation of the draft.