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YEREVAN, DECEMBER 13, ARMENPRESS:
Member of the Kuwait Chamber of Commerce and Industry (KCCI) and Kuwait Industries Union ChairmanHusseinAl-Kharafisaid on Monday that the Armenian economic delegation's visit to the country represented "the beginning of future investments between the two countries."
Citing Kuwait News Agency (KUNA), Armenpress reports that Al-Kharafisaid "the Republic of Armenia has distinct segments of investment in the fields of tourism, agriculture and jewelry."
He said that the visit of the delegation headed by the Director General of the Armenian Development Agency Robert Harutyunyan along with a number of private sector representatives in Armenia came in response to the visit of the Minister of Finance Mustafa Al-Shamali last October to Armenia within the framework of the first meeting of the joint Kuwaiti-Armenian Ministerial Committee in Yerevan.
Al-Kharafipointed out that the delegation met during its visit with a group of local investors and paid a visit to a number of agencies and economic institutions in the country, including the Kuwait Industries Union.
For his part, Robert Harutyunyan said that Kuwait's Medium-term development plan is a "good chance" for the exchange of investment and cooperation between the two countries in commercial activities. He noted that the Armenian government is interested in providing the necessary facilities to Kuwaiti investors, referring to many valuable investment opportunities under implementation with good economic feasibility.
He said the expected GDP growth rate of his country in the current year was up to five percent compared with 2.6 percent last year, indicating that the volume of direct foreign investment in Armenia stood at USD 690 million in 2010.