Armenian-German economic ties: Trends and perspectives

Armenian President Serzh Sargsyan held consultations on the current state and perspectives of development of Armenian-German economic ties, the ongoing joint programs and achievements.

Taking into consideration that the Armenian President is going to visit Germany in the near future, the regular sitting of the Armenian-German Inter-Governmental Commission and a business forum are scheduled this year, the discussions focused on preparatory works.

“Germany is our country’s number one partner among the EU member states. The commodity turnover has fluctuated between 350 and 450 mln USD over the past 5-6 years. There are tens of companies with German capital functioning in Armenia, which certainly contribute to the development of our country,” President Sargsyan said.

The President said membership in the Eurasian Economic Union is a new opportunity for inviting European countries to invest in Armenia and thus enter the EEU market.

The President stressed the importance of partnership with the German Development Bank (KFW) and praised Germany’s technical assistance. “Germany is a second donor country for Armenia after the United States. Germany has provided hundreds of millions of dollars in technical assistance to Armenia,” the President said.

Armenia’s Ambassador to Germany A shot Smbatyan briefed the President on the current state of Armenian-German trade relations, the dynamics of development, the ongoing and future programs, the perspectives of cooperation in a number of spheres of reciprocal interest – information and communication technologies, tourism, healthcare, education and others.

Show More
Back to top button