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U.S. firm to invest $180 million in Armenia's Voroton hydro-electric plant
11:26 23.11.2013
The Armenian National Committee of America (ANCA) today welcomed the
realignment of the U.S.-Armenia economic dialogue away from primarily
`donor-recipient'-based discussions and toward a focus on practical
steps to promote a robust bilateral trade and investment partnership.
At a State Department press conference, held this evening at the end
of a day-long meeting in Washington, DC of the U.S.-Armenia Task
Force, the U.S. and Armenian government's welcomed the formal
announcement of a $180 million investment by the U.S. firm Contour
Global in Armenia's Voroton hydro-electric plant, the implementation
of a new visa relaxation regime for business travelers, the selection
of Armenia as one of 20 countries in USAID's Science Technology
Innovation Program (STIP) in the areas of energy independence and
water management, Armenia's edibility for a second Millennium
Challenge Corporation grant, and, more broadly, an overall shift -
long advocated by the ANCA - away from primarily aid-based discussions
toward a trade and investment focused bilateral economic dialogue.
The Voroton investment represents the single largest U.S. investment
in the history of the U.S.-Armenia bilateral relationship.
`We welcome today's meeting as a positive watershed in the history of
the U.S.-Armenia economic relationship. The results of today's talks
hold the promise of a meaningful escalation, on a policy level, of
this trade and investment partnership, and, on a more practical level,
set the stage for sustainable future growth,' said ANCA Chairman Ken
Hachikian. 'We want to share our appreciation to all the stakeholders
in this process, for their work and commitment to the U.S.-Armenia
relationship. We very much look forward, in the spirit of the enduring
American-Armenian friendship, to closely following the implementation
of today's decisions, to seeing the real-world results of these
efforts, and to building upon today's progress for the benefit of both
our nations.'
Commenting to the ANCA following the meeting, U.S. Ambassador to
Armenia, John Heffern, noted that the U.S. and Armenia are moving
toward a `more mature relationship,' `getting away from the
`donor-recipient' model and focusing on the partnership model - a
partnership model that does include assistance.' USAID Mission
Director Karen Hilliard shared with the ANCA that the meeting was
`very cordial, very fruitful, and of great mutual benefit,' noting, in
particular, U.S.-Arenia comoperation to liberalize the aviation
sector, which she hopes will have an `enormous impact' on tourism and
cross-border trade.' She added that a key focus going forward will be
energy diversification and water resource conservation, noting that
USAID Director Rajiv Shah `has selected Armenia as one of 20 focus
countries for applying science and technology to development problems
and here today, we agreed to focus in on the energy and water sectors
for that effort - which I think will bear tremendous dividends for
Armenia in the future.'
Washington was represented at these talks by Deputy Assistant
Secretary of State for European Affairs Eric Rubin, U.S. Agency for
International Development Assistant Administrator Paige Alexander, and
Coordinator for Assistance for Europe Daniel Rosenblum. U.S.
Ambassador to Armenia, John Heffern, a consistent advocate for the
expansion of bilateral economic relations also took part, as did USAID
Armenia Mission Director Karen Hilliard. Rubin, speaking at the press
conference, noted: `Today we held positive discussions on customs and
tax reform, energy security and integration, workforce development,
and, importantly, we discussed potential mechanisms to increase trade
and investment between Armenia and the United States.'
Yerevan was represented by Minister of Finance Davit Sargsyan, along
with representatives from the Ministries of Foreign Affairs, Economy,
Justice, Energy and Natural Resources, and Nature Protection.
Armenia's Ambassador to the U.S., Tatoul Markarian, played a key role
in both the preparations for this meeting and in today's discussions.
http://www.armradio.am/en/2013/11/23/u-s-armenia-economic-dialogue-focuses-on-practical-steps-to-promote-bilateral-trade/
From: Baghdasarian
11:26 23.11.2013
The Armenian National Committee of America (ANCA) today welcomed the
realignment of the U.S.-Armenia economic dialogue away from primarily
`donor-recipient'-based discussions and toward a focus on practical
steps to promote a robust bilateral trade and investment partnership.
At a State Department press conference, held this evening at the end
of a day-long meeting in Washington, DC of the U.S.-Armenia Task
Force, the U.S. and Armenian government's welcomed the formal
announcement of a $180 million investment by the U.S. firm Contour
Global in Armenia's Voroton hydro-electric plant, the implementation
of a new visa relaxation regime for business travelers, the selection
of Armenia as one of 20 countries in USAID's Science Technology
Innovation Program (STIP) in the areas of energy independence and
water management, Armenia's edibility for a second Millennium
Challenge Corporation grant, and, more broadly, an overall shift -
long advocated by the ANCA - away from primarily aid-based discussions
toward a trade and investment focused bilateral economic dialogue.
The Voroton investment represents the single largest U.S. investment
in the history of the U.S.-Armenia bilateral relationship.
`We welcome today's meeting as a positive watershed in the history of
the U.S.-Armenia economic relationship. The results of today's talks
hold the promise of a meaningful escalation, on a policy level, of
this trade and investment partnership, and, on a more practical level,
set the stage for sustainable future growth,' said ANCA Chairman Ken
Hachikian. 'We want to share our appreciation to all the stakeholders
in this process, for their work and commitment to the U.S.-Armenia
relationship. We very much look forward, in the spirit of the enduring
American-Armenian friendship, to closely following the implementation
of today's decisions, to seeing the real-world results of these
efforts, and to building upon today's progress for the benefit of both
our nations.'
Commenting to the ANCA following the meeting, U.S. Ambassador to
Armenia, John Heffern, noted that the U.S. and Armenia are moving
toward a `more mature relationship,' `getting away from the
`donor-recipient' model and focusing on the partnership model - a
partnership model that does include assistance.' USAID Mission
Director Karen Hilliard shared with the ANCA that the meeting was
`very cordial, very fruitful, and of great mutual benefit,' noting, in
particular, U.S.-Arenia comoperation to liberalize the aviation
sector, which she hopes will have an `enormous impact' on tourism and
cross-border trade.' She added that a key focus going forward will be
energy diversification and water resource conservation, noting that
USAID Director Rajiv Shah `has selected Armenia as one of 20 focus
countries for applying science and technology to development problems
and here today, we agreed to focus in on the energy and water sectors
for that effort - which I think will bear tremendous dividends for
Armenia in the future.'
Washington was represented at these talks by Deputy Assistant
Secretary of State for European Affairs Eric Rubin, U.S. Agency for
International Development Assistant Administrator Paige Alexander, and
Coordinator for Assistance for Europe Daniel Rosenblum. U.S.
Ambassador to Armenia, John Heffern, a consistent advocate for the
expansion of bilateral economic relations also took part, as did USAID
Armenia Mission Director Karen Hilliard. Rubin, speaking at the press
conference, noted: `Today we held positive discussions on customs and
tax reform, energy security and integration, workforce development,
and, importantly, we discussed potential mechanisms to increase trade
and investment between Armenia and the United States.'
Yerevan was represented by Minister of Finance Davit Sargsyan, along
with representatives from the Ministries of Foreign Affairs, Economy,
Justice, Energy and Natural Resources, and Nature Protection.
Armenia's Ambassador to the U.S., Tatoul Markarian, played a key role
in both the preparations for this meeting and in today's discussions.
http://www.armradio.am/en/2013/11/23/u-s-armenia-economic-dialogue-focuses-on-practical-steps-to-promote-bilateral-trade/
From: Baghdasarian