American Chamber of Commerce interested in activating Armenian-American business contacts
The American Chamber of Commerce of Armenia (AmCham) is interested in activating the Armenian-American business relations. Karine Sarkisian, Executive Director of the American Chamber of Commerce in Armenia, stated this during a meeting with representatives of the Ministry of Economy, the State Revenue Committee and the business community of Armenia.
According to the press service of the Ministry of Economy, Karine Sarkissian said that in the near future it is planned to hold a forum on franchising, work and organize events to develop the Armenian-American cooperation within the framework of TIFA (Trade and Investment Framework Agreement). During a substantive and fruitful discussion, representatives of the business community presented in detail their problems and obstacles in the course of their activities, tried to jointly find ways to eliminate them and propose possible solutions.
Entrepreneurs mainly highlighted technical, logistic, documentary issues, in particular, those related to the export of meat, transportation of goods, the rise in prices for the transportation of goods, parcels and mail, the lack of REF containers when exporting wine, the certification process, protection of intellectual property, lack of information on US import procedures, and a number of other issues. As a result, an agreement was reached to hold such meetings on a regular basis, if necessary, create working groups, organize separate industry meetings with the participation of representatives of ministries and the American Chamber of Commerce.
To note, according to the Statistical Committee of the Republic of Armenia, in 2020 the foreign trade turnover between Armenia and the United States decreased by 54.5%, amounting to only $ 152 million. At the same time, exports showed an increase of 25.9% to $ 67.8 million, with a decrease in imports by 70% up to $ 84.2 million.