YEREVAN, FEBRUARY 28, ARMENPRESS. Armenia and Egypt are strengthening the economic ties.

On February 28 the Armenian-Egyptian Business Association and the International Business Relations Support Council signed an agreement according to which the sides are going to implement joint programs.

The signing ceremony was also attended by Egyptian Ambassador to Armenia Bahaa El Din Bahgat Dessouki.

“This agreement should serve for improving the Armenian-Egyptian economic relations. We are also happy to see the Ambassador here”, Chairman of the Armenian-Egyptian Business Association Eduard Manukyan said.

The IBRS Council chair Mariam Manukyan expressed confidence that as a result of the agreement great opportunities will be created this year. “I think that by the end of the year when we sum up our joint works, we will have a lot to say. And the report will be a great chance to be proud of based on the results of our activities”, she said.

The Egyptian Ambassador to Armenia highly appreciated the fact that such an agreement has been signed. “We have perfect relations with Armenia in political, cultural and other areas. However, unfortunately, there isn’t a similar high-level cooperation in economic and trade sectors. That is the reason we are trying to work on this direction to contribute to the development of both commercial and economic ties”, he said.

The Ambassador noted that this agreement is a beginning for broad cooperation. The two countries have great opportunities for trade and even investments. He said sometimes certain people in Egypt, who want to invest in Armenia or launch a business, think that the Armenian market is small. But the Ambassador emphasized that many markets are open for Armenia.

The sides of the agreement should implement joint programs for the benefit of the business field in Armenia, as well as hold business forums and international exhibitions within the frames of which important meetings will take place.

Edited and translated by Aneta Harutyunyan