EU Countries' 53.9% Share In Direct Foreign Investments In Armenia I

[Emil Lazarian]

EU COUNTRIES' 53.9% SHARE IN DIRECT FOREIGN INVESTMENTS IN ARMENIA IN 2003 INCREASES TO 76.5% IN 2005

Noyan Tapan
Oct 31 2006

YEREVAN, OCTOBER 31, NOYAN TAPAN. In January-August 2006, European
Union (EU) countries accounted for 36.9% of Armenia's foreign
trade. 50.8% of goods exported from Armenia was exported to EU
countries. In the indicated period, EU countries accounted for
30.6% of Armenia's imports. The RA Minister of Trade and Economic
Development Karen Chshmaritian presented this data during the October
31 press conference, noting that the EU is the most active trade
partner of Armenia. According to him, in 2001-2005, the average
annual share of the EU in Armenia's foreign trade made up 36.9%,
its share in the country's exports - 37.3%, in imports - 32.3%. In
the same period, the companies of EU countries accounted for 42.6%
of foreign investments in Armenia, their share in direct investments
over this period amounting to 49.9%. In 2003, EU countries accounted
for 53.9% of the direct foreign investments in Armenia, while in 2005 -
for 76.5%. K. Chshmaritian said that in 2005, foreign investments in
Armenia amounted to 400 million USD, investments of EU countries'
companies - to 215 million USD, 187 million of which was direct
investment. According to the minister's forecasts, in 2006, the total
amount of investments in Armenia will grow by about 20%. The minister
noted that Greece is in first place by the amount of investments in
Armenia in 2005, followed by Germany and France.

From: Emil Lazarian | Ararat NewsPress