The Armenian National Assembly ratified two agreements signed with Jordan and the United Arab Emirates on encouragement and mutual protection of investments.
Hovhannes Azizyan, deputy economic development in investments minister, presenting the agreements, said the aim of these documents is to create favorable environment for investments, development of mutually beneficial economic cooperation, attraction pf private capital and an effective use of economic resources.
“By signing these agreements the parties have assumed a commitment to encourage investments and create favorable environment for investors, which will make it possible to spur bilateral contacts,” he said.
Speaking about Jordan, Azizyan singled out food-processing, agriculture and tourism as promising areas for cooperation.
For cooperation with the United Arab Emirates, he pointed out production of spirits and canned fruits and vegetables. He said that the country’s investors also expressed interest in diamond-cutting and jewelry industries, and the parties are negotiating now over the matter.
In his words, these agreements will allow Armenia to attract quite considerable investments.
The deputy minister said that Armenia has 41 similar agreements with CIS, Eurasian Economic Union and EU countries. Negotiations are now being held with other seven countries. A similar agreement is expected to be signed with Japan soon.
According to statistical reports, he said, Armenia’s key investors are those countries which have bilateral agreements with Armenia. In particular, investments from these 41 countries make up 90% of all investments in Armenia.