President of Armenia: Germany is Number One Trade Partner of Armenia among EU Member States

Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the Federal Republic of Germany Ashot Smbatyan reported on the Armenian-German relations, focusing on trade component of the partnership, as well as on bilateral ongoing projects, achievements and existing problems to the President of Armenia Serzh Sargsyan on March 9. As informed from the Department of Public Relations and Mass Media of Republic of Armenia President’s Office, considering that Armenian President’s visit to Germany is scheduled for the near future and the regular session of Armenian-German intergovernmental commission and a business forum are planned to be held in the current year, the keynote speaker reported also about the works being carried out ahead of those events.

Head of the Armenia-Germany Parliamentary Friendship Group Artak Davtyan, Minister of Finance Gagik Khachatryan, Minister of Economy Artsvik Minasyan, Deputy Foreign Minister Robert Harutyunyan and a number of officials from the President’s Office attended the consultation.

“Germany is our number one trade partner among the EU member states, trade turnover fluctuated between $350-400 during the recent years, which is not a bad figure. Some dozens of companies operate in Armenia with German capital, which, undoubtedly, contribute to the development of our country”, the President said, outlining “Cronimet” as one of the most reliable and responsible companies providing one of the most job opportunities.

President Sargsyan stated that Armenia is already an EAEU member state, which is another opportunity to attract investments of our European partners. Serzh Sargsyan attached particular importance to investing German technologies in Armenian industry.

Ambassador Ashot Smbatyan introduced the current state of Armenian-German trade and economic relations, development dynamics, ongoing and expected projects, partnership opportunities in a number of fields such as IT, tourism, health, education and so on, as well as the works implemented by the Armenian Embassy in Germany in those directions.

The Ambassador stated Armenia and Germany have great potential for cooperation in IT sector, as Germany has made some changes in its economic policy in the recent years, giving much more importance to outsourcing.

At the conclusion of the discussion, President Serzh Sargsyan gave instruction to the participants and relevant agencies on the issues, programs and problems which were raised during the meeting.