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Armenia and Greece to intensify economic ties

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22.03.2019
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Armenia and Greece intend to take steps to activate economic ties, and submit specific proposals to each other. This agreement was reached during the  meeting of the Deputy Minister of Economic Development of the  Republic of Armenia Mane Adamyan and the Greek delegation arrived in  Armenia headed by the Secretary General for International Economic  Relations of the Greek Foreign Ministry Ioannis Brahos.

According to the press service of the Ministry of Economy, during the meeting, the  interlocutors discussed a number of issues related to the Armenian-Greek cooperation. In particular, the parties stressed the  importance of activating economic ties and increasing mutual trade,  where there is a large untapped potential. In this context, Adamyan  and Brahos noted the need to activate the work of the Armenian-Greek  intergovernmental commission. 

It was proposed to hold the next meeting in Yerevan. According to the  source, the deputy minister presented the guests the potential of  Armenia as a bridge for organizing the economic relations of the EU -  EAEU - IRI - Middle East, as well as the conditions for the  functioning of free economic zones (FEZ) in the country. According to  the RA Statistical Committee, the foreign trade turnover between  Armenia and Greece increased by 32% to $64.8 million in 2018. At the  same time, exports increased by 40.3% to $271.5 thousand, while  imports grew by 32% to $64.6 million. 

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