YEREVAN, APRIL 18, ARMENPRESS. Armenia serves as a platform for the Brazilian businessmen to enter Russian and Iranian markets, Armen Avak Avakian – director of Business Armenia, told reporters on the sidelines of the Armenian-Brazilian Business Forum in Yerevan on April 18, Armenpress reports.

“Armenia’s geographical position is quite convenient for ensuring the link from the Persian Gulf to the Black Sea, and secondly, we have economic ties with the Russian market, other countries of the EAEU [Eurasian Economic Union], Iran and the European Union. We believe that there are broad opportunities for the Brazilian businessmen to work in the region through us”, the official noted.

He said the Brazilian companies which produce and export goods to Russia or Iran, can establish their productions here by using the EAEU’s opportunities. In this regard the Business Armenia chief attached importance to the activity of the Armenian free economic zones where it is possible to produce and export goods with privileged tax terms. “Armenia also has free economic zones where there is an opportunity to conduct an activity without taxation regime. We have separate free economic zones in the fields of jewelry, IT, and in late 2017 we launched the Meghri Free Economic Zone. When the free trade agreement is signed between Iran and the EAEU, this zone will play an important role in our economic relations”, he said.

Talking about Armenia’s overall investment environment, Armen Avak Avakian said the ongoing reforms here are directed for both the local and foreign businesses to feel comfortable in the country.

As for the export of Armenian goods, the Business Armenia head said the greater the distance between the countries, the bigger the export volumes of goods so that in the total expenditures the relative share of logistic costs will decrease. But, according to him, at the moment there is a problem of ensuring great volumes to Brazil.

The total trade turnover between Armenia and Brazil in 2017 comprised 73 million 475 thousand USD, increasing by nearly 40% compared to 2016. The import of goods from Brazil affected the growth, but in terms of export decline was recorded.

English –translator/editor: Aneta Harutyunyan