Armenian-Czech trade relations do not correspond to the level of political dialogue

Liana Yeghiazaryan

The economic and business ties between Armenia and the Czech Republic are not well developed, the commodity turnover is low, but there are serious perspectives for positive development, Czech Foreign Minister Karel Schwarzenberg said at the Armenian-Czech business forum in Yerevan. Issues related to the implementation of new joint programs and expansion of cooperation were discussed at the event.

“The economic cooperation between the two countries does not correspond to the level of political dialogue. It’s necessary to pay attention to the legal framework; a number of documents on the protection and encouragement of investments are still lacking,” Minister Schwarzenberg said.

Acting Foreign Minister of Armenia Edward Nalbandian agreed that additional efforts are needed for the expansion of economic exchange. The Minister said he hopes the current meetings will help increase the number of Czech companies in Armenia, outline new business projects, which will have a positive impact on the trade-economic relations between the two countries.

The parties pointed to Information Technologies, light industry, tourism, hydro and nuclear power as promising spheres of cooperation.

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