Level of Chinese investments in Armenia low: Armenia’s ambassador

Despite high level of development of Armenian-Chinese relations, there are sectors which do not satisfy the Armenian ambassador to China Sergey Manasaryan.

Speaking to Aysor.am, the ambassador said that there are still big opportunities for work and development.

The ambassador said the Armenian-Chinese relations are developing and if to look at the past ten years the achievements will become obvious.

“Today we may say for sure that China is reliable partner for Armenia. Our relations are based on mutual respect and trust which was clearly seen during the visit of the Armenian Prime Minister,” Manasaryan stressed.

Speaking about economic cooperation, the ambassador said the volume of Chinese investments in Armenia is very small and it is necessary to first of all understand the reason.

“The most important thing for investor is being protected by the law and the rule of law. Today after radical changes in Armenia the investor is protected by the acting law which has already given its results,” the ambassador stressed, adding that currently mineral waters plant is being founded in Armenia’s Lori region the products of which will be fully consumed in China. The ambassador also said that a contract has been signed with Yerevan brandy factory.

Manasaryan said the volume of Chinese investments are directly connected with Armenia’s practical involvement in the One Zone One Way initiative which has found positive solution during the visit of Armenia’s PM to China.

The ambassador said that Armenia is still in the beginning of the route and stressed that cooperation with China is of strategic significance for Armenia.

Manasaryan said among the products exported to Chinese market are Armenian alcohol products, wine and brandy in particular. Currently intensive works are being undertaken to familiarize China with the Armenian products.

He said certain works are necessary to be done like for instance ensure physical presence of Armenian producers in China. He said one of the ways to ensure it is organization of exhibitions.

“The more the Armenian producers participate in Chinese exhibitions the easier the Armenian products will be consumed in the Chinese market,” the ambassador said.

Manasaryan said that the trade turnover between Armenia and China in 2018 reached over 775 million USD.

As to the results of the visit of the Armenian PM to China, the ambassador said that the elimination of the visa regime between the two countries testifies the highest level of relations established between the two countries which is an important pre-condition for intensifying relations in all directions and establishing direct air communication between the two countries.

The ambassador also said that during the visit of the PM issues on development of bilateral relations and boosting cooperation were discussed with the Chinese leadership.

As to the construction of copper-molybdenum  plant in Armenia, the ambassador said that the program is still actual and is of great significance.

“Unfortunately, currently the participant company from the Armenian side faces some domestic issues. Chinese partner company CITIC corporation treats the issue with understanding and agreed to temporary quit the works,” he said, adding that discussions will be held with all the parties to understand whether the same Armenian company will manage to continue the works or involvement of new partners will be necessary.