Armenian-American economic relations reach new qualitative level - Minister

Armenian-American economic relations are now on a new qualitative level, Minister of Economic Development and Investments Artsvik Minasyan told the reporters today.

“We are working on having reciprocal investment contract with the USA which will promote US investments n Armenia and allow usage of new mechanisms for trade turnover. The positive history of US investments in Armenia inspires hope that we may expect investments in at least 80% of branches,” the minister noted.

“I have stated that investment projects totaling to over one billion USD are being proposed of which 240,000 USD are realistic for near future,”  he said, adding that part of them have already been realized and relate to IT, logistic opportunities, agricultural re-cultivation and high-level hotel services spheres. “We have proposals relating to healthcare, education spheres,” the minister said.

Artsvik Minasyan noted that negotiations are ongoing with the US side over elimination of double taxation system. “There are one-two sensitive issues here. We are conducting negotiations currently and would not like to voice them as of the moment,” the minister said.