During the latest meeting of the Trade and Investment Framework Agreement (TIFA) working group between Armenia and the United States of America, held in Washington on March 7-8, aspects of economic cooperation between the two countries were discussed.
According to the press service of the Ministry of Economy of Armenia, the meeting addressed issues related to the development of economic and related sectors. Important topics such as strengthening trade ties, expanding mutual trade volumes, diversification and promotion of exports, as well as technical aspects including customs control and the removal of technical barriers to trade, were discussed.
The agenda also included discussions on the Generalized System of Preferences (GSP), ongoing negotiations within the World Trade Organization (WTO), digitization of export-import processes, and electronic export declaration from the USA. Aspects of financial system integration, intellectual property reform, and labor legislation were also discussed.
Reforms underway in the Armenian economy were presented during the meeting, and prospects for expanding economic cooperation between Armenia and the USA were discussed.
Significant attention was given to strengthening ties between governmental structures and business representatives of both countries.
Agreements were reached at the meeting to continue work on all mentioned directions, underscoring the importance of further cooperation to both sides.
It is worth noting that on May 7, 2015, Armenia and the USA signed a Framework Agreement on Trade and Investment with the aim of deepening economic cooperation, expanding trade in goods and services, and activating business initiatives.
In accordance with this agreement, the Armenia-USA Trade and Investment Council was established, led by the Ministry of Economy of Armenia on the Armenian side and the Office of the US Trade Representative on the American side.
