Francois Hollande: France accounts for half of EU investment in Armenia

France accounts for a half of investments made by the European Union in Armenia, French President Francois Hollande said at the opening of an Armenian-French business forum in Yerevan. F. Hollande is on a state visit to Armenia.

According to him, the French side invested in Armenia’s mining industry, communications, transport, and procurement.

President Hollande said that a great deal has been said about Armenian-French relations, the measures taken, and 500,000 Armenians living in France, but France ranks only 10th among Armenia’s trading partners. In his words, the economic results show that the two countries have a long way to go.

F. Hollande stressed that the French side should first become familiar with Armenian conditions and intensify contacts, with the French embassy playing an important role here. Experience and knowledge of French businessmen shall be introduced in the country’s economy, French goods and technology should appear in Armenia, he noted.

Speaking about the upcoming opening of a Carrefour hypermarket in Yerevan, the French president stated that it will mark a new period of Armenian-French economic cooperation. He expressed confidence that it will allow Armenia to be involved in an international commercial chain.

“I would like this first investment to inspire and encourage others. We need to simplify the investment process in every possible way,” the French president said.