Time in Yerevan: 11:07:36,   21 October

Armenia, Portugal expand business ties, boost investments: memorandum signed in Yerevan

Armenia, Portugal expand business ties, boost investments: memorandum signed in Yerevan

YEREVAN, SEPTEMBER 16, ARMENPRESS. Armenia and Portugal plan to expand the commercial cooperation.

Today, on September 16, the leaders of the respective structures of the two countries signed a memorandum of cooperation for boosting the business ties and investments.

CEO of the Trade Agency and Investments of Portugal (AICEP) Luís Filipe de Castro Henriques and Director of the Enterprise Armenia Levon Ohanesyan signed the respective document in Yerevan.

The Director of the Enterprise Armenia said that Armenia, in terms of foreign investments, is interesting also as an EAEU market.

Currently, Armenia has certain business cooperation with Portugal. However, Mr. Ohanesyan is confident that still a lot needs to be done. “We must strengthen those bilateral business ties, organize business forums so that our and Portuguese businessmen will get acquainted with one another and will start cooperation”, he said.

According to the memorandum, the sides agreed to strengthen the business ties with forums and expand the partnership. “Portugal will direct its investors to us, we will serve them with the one window principle and will assist at all stages. As well as, if there is an interest from the Armenian side to invest in Portugal, we will do the same”, he said and thanked the Armenian Ambassador to Portugal, the diplomatic corps.

In his turn Luís Filipe de Castro Henriques said: “We believe that Armenia will very soon be much more interesting for the Portuguese business. Currently, the business community of Portugal doesn’t know so well Armenia. This is the first step”.

He also commented on the geographical positions of Armenia and Portugal. “We believe that when Portuguese companies arrive in Armenia, we will look at the whole region with which you have trade, and when Armenian companies arrive in Portugal, they will look at the region with which Portugal has trade”, he said, adding: “We are searching for new trade opportunities, not only for expanding the current export, but also diversifying the export portfolio”.

He stated that there are some fields which can have potential investments from Portugal in the future, in particular mentioning the fields of IT and food production.


Editing and Translating by Aneta Harutyunyan



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