UAE and Armenia sign trade cooperation agreement

UAE and Armenia sign trade cooperation agreement

The Chamber of Commerce and Industry (CCI) of Abu Dhabi and the national investment company of Armenia Enterprise Armenia signed an agreement on cooperation in the field of trade and investment. This was reported by the UAE news agency WAM on Tuesday.

The agreement was signed on the sidelines of the World Expo 2020 (Expo 2020) in Dubai between the Director General of the Abu Dhabi Chamber of Commerce and Industry Mohammed Hilal Al-Muhairi and the Minister of Economy of Armenia Vahan Kerobyan. According to the document, both sides will work to develop trade relations and improve the investment climate in order to implement a number of projects in various sectors of the economy.

Al Muhairi said that “the UAE authorities are actively cooperating with both regional and global business structures, creating a favorable business environment, and the partnership with Yerevan is proof of this.”

He noted that “in recent years, there has been a noticeable progress in the bilateral relations between the UAE and Armenia”, adding that “this agreement will become the basis for further cooperation, especially in the field of stimulating exports and imports between the two countries.”

Investment Director of Enterprise Armenia Aram Vardanyan, in turn, said that “Yerevan is interested in learning from the innovative experience of the UAE in the private sector”, pointing out that “the agreement with Abu Dhabi will open new horizons for joint cooperation and increase the potential of both parties in the field of investment” .