3 minute read
YEREVAN, DECEMBER 17, ARMENPRESS. Armenia and Greece plan to boost economic relations, increase trade turnover and mutually offer investment opportunities to businesses.
On December 17, Yerevan hosted the 6th session of the Armenia-Greece Intergovernmental Commission on Economic, Industrial and Scientific-Technical Cooperation.
Armenian Minister of Economy Gevorg Papoyan, who co-chairs the commission, said that the trade-economic cooperation between the two countries is based on the historical and cultural ties between Armenia and Greece.
The session was co-chaired by Greek Deputy Foreign Minister for Economic Diplomacy Konstantinos Fragkogiannis.
This year, trade turnover between the two countries (January-October) amounted to 44,7 million dollars, a decrease of 14,3%.
Papoyan said the EU sanctions against Russia and the lifting of GSP+ have had negative impact.
“Our goal is to have sustainable growth, a continuous growth in Armenia-Greece trade turnover, both in exports and imports,” Papoyan said.
Despite mutual investments, the minister said the volume of mutual capital in each other’s countries is far from sufficient.
“It is time to boost our relationship economically. We would want the Greek capital to expand in Armenia, which would be mutually beneficial for our economies,” the minister said.
Papoyan said that Armenia-EU partnership is Armenia’s priority. He said that the development of economic ties with Greece is part of the exports diversification policy. He said that the Crossroads of Peace project can transform the divided region into a powerful hub of economic cooperation.
Fragkogiannis said that both countries want to deepen and strengthen their relationship.
“Armenia and Greece have created strong relations based on common values and historical similarities,” he said. “We have a common desire to deepen and strengthen our relationship.”
The Greek official further added, “We are one of the fastest growing economies in Europe. Greece is very favorable for foreign investments. And we would like our business community to have broader involvement in the trade with Armenia and investments.”
In case of Armenia choosing a pro-EU policy Greece would fully support it, he said.
The Greek Deputy FM said that his country always stands by Armenia.
The sides discussed cooperation in various areas, such as high technologies, industry, tourism and others.