Time in Yerevan: 11:07:36,   23 July

Armenia-China trade turnover grows 40%


YEREVAN, JUNE 22, ARMENPRESS. Armenia’s commercial attaché to China Hrant Abajyan has delivered the “Armenia – Gateway to Major Markets” presentation on Armenia’s economic potential at the Beijing trade and services international exhibition.

A number of leading Chinese news media, including Xinhua News Agency, China Daily and Ta Kung Pao newspaper, have covered Armenia’s participation at the exhibition and the investments attraction of the country.

Chinese media mentioned that Armenia can be a good choice for Chinese businessmen who are looking for new investment directions. The articles also mention that by having a small domestic market, Armenia is opening a door for businessmen into the wider EEU market – at the same time using the GSP and GSP+ systems. The articles and interviews touch upon the export opportunities from Armenia into the 80,000,000 big Iranian market, as well as the prospect of business activities by Chinese investors in the Meghri FEZ. ARMENPRESS talked to Abajyan on this occasion.

Which sectors are of key interest for Chinese businessmen?

Chinese businessmen are usually mostly interested in promising investment projects of the renewable energy, infrastructure, mining and processed industry field. From meetings and discussions in various formats I can also conclude that the Meghri FEZ is of special interest, because it is also a new and attractive option for accessing the Iranian market. Chinese businessmen are often concerned about the issue of investment protection, in response to which we present the wide and safe mechanisms of investment protection of Armenia.

China is one of Armenia’s main partners in terms of trade turnover. Which Armenian products are Chinese businessmen mostly interested in?

If we view trade turnover from the perspective of individual products, then the most exports from Armenia goind to China are mining raw materials. But I am happy to say that we also have significant growth in wine and other alcoholic drink exports. Gemstones and semi-precious gemstones are also among main exports products.

The commercial attaché said that trade turnover volumes between Armenia and China grew 40% in January-April of 2018 against the previous year’s same period.

 

The full interview is available in Armenian.

Edited and translated by Stepan Kocharyan

 




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