Sharjah Chamber, Armenia discuss enhancing investment cooperation in agriculture

SHARJAH,5th November, 2024 (WAM) – The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with the Embassy of Armenia to the UAE, exploring avenues to strengthen collaborative mechanisms to support the business community in both countries with a particular focus on the agricultural sector.
Both sides also discussed fostering communication channels between entrepreneurs and businessmen in Sharjah and Armenia, with an aim to enhance trade and investment cooperation in agriculture, thereby advancing agricultural development projects and ensuring sustainable food security.

The discussions took place during a meeting, held at SCCI’s headquarters, between Abdallah Sultan Al Owais, Chairman of SCCI, and Karen Grigorian, Ambassador of the Republic of Armenia to the UAE.

The meeting discussed the possibility of signing a Memorandum of Understanding (MoU) between the Sharjah Chamber and the Embassy of Armenia to develop potential areas of cooperation and strengthen economic ties between the two countries.
Through organising joint events and business forums, the MoU would foster opportunities for entrepreneurs from both nations to exchange expertise, identify key investment prospects, and build partnerships among investors. The Sharjah Chamber affirmed its commitment to supporting Armenian businessmen by facilitating their engagement with Sharjah's business community and providing guidance on navigating the local market.

During the meeting, Al Owais underscored the Sharjah Chamber's commitment to advancing economic cooperation between Sharjah and Armenia to new heights and continuously coordinating efforts to provide all possible incentives and support that bolster bilateral trade and investment relations between the two countries.

He pointed to promising horizons for collaboration between the business communities of Sharjah and Armenia, especially in light of the noticeable growth in commercial and investment relations between the two nations.

The UAE ranked as Armenia’s second-largest trading partner in 2023, with total trade reaching approximately $2.85 billion. This upward trajectory continued, with trade volume growing to around $2.173 billion in Q1 2024, marking a significant increase in the two countries' trade exchange.