Armenian-French economic relations: Trends and perspectives

President Serzh Sargsyan today held consultations on issues of Armenian-French economic cooperation. Taking into consideration that the relations between Armenia and friendly France are on a high level and are described as privileged by both countries, the discussions focused on the current state of economic ties, the perspectives of development of mutually beneficial cooperation in different spheres.

Attending the meeting were Armenia’s Ambassador to France Vigen Chitechyan, Foreign Minister Edward Nalbandian, Head of the Armenia-France Deputy Friendship Group, MP Ara Babloyan, Minister of Economy Artsvik Minasyan, other officials.

The President noted that more than 140 companies with French capital are currently operating in Armenia, playing an important role in the country’s economic development.

He noted, however, that the trade-economic relations are on a high level and added that the commodity turnover between the two countries is not satisfactory.

Ambassador Vigen Chitechyan presented a detailed report on issues on the agenda of Armenian-French economic cooperation, the steps being taken in that direction, the existing problems and the future plans.  He noted that the bilateral economic ties intensified after 2007, making France Armenia’s second partner in term of foreign investments.

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