Existing Armenian-Indian trade and economic potential not used fully: Ambassador

Existing Armenian-Indian trade and economic potential not used fully: Ambassador
ARKA, 09.04.2010

Armenia’s ambassador to India, Ara Hakobian, told Indian minister of trade and industry Anand Sharma March 5 in New Delhi that Armenia and India do not use fully the existing potential to boost their trade and economic relations.

Armenian foreign ministry said the two men looked into a set of issues related to liberalization of bilateral trade regime that would allow both sides to increase their trade and economic contacts. In this context they emphasized mutual visits by business people, creation of joint ventures and stimulation of investments.

The Armenian ambassador noted the high-level political dialogue between India and Armenia, the presence of commonalities uniting both peoples and special warmth of bilateral relations.

According to official figures, Armenian-Indian trade in 2009 contracted by 10.2% to $46.3 million. Armenian exports to India grew by 16.6% from 2008 to $2.9 million, while the volume of imports from India fell by 11.5% to $43.4 million. -0-