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Armenia And Argentina May Set Up Joint Textile Company- ADA

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  • Armenia And Argentina May Set Up Joint Textile Company- ADA

    ARMENIA AND ARGENTINA MAY SET UP JOINT TEXTILE COMPANY- ADA

    YEREVAN, October 17. / ARKA /. The head of the Armenian Development
    Agency (ADA) Robert Harutyunyan told reporters today that Armenia
    and Argentina may establish a joint textile company in the near future.

    He said the parties had conducted some talks and are expected to sum
    up their results in a couple of months.

    Armenian textile products are already exported to Argentina, but in
    very small quantities.

    According to Harutyunyan, the statistics show that exports from
    Armenia to Argentina are very small, and therefore the main objective
    of the ADA is to find new ways to take Armenian goods to the Argentine
    market .

    According to the National Statistical Service of Armenia, Argentina
    was the largest foreign investor in the Armenian real economy sector
    in the first half of this year ($76 million), more than a ten times
    increase from the year before. Moreover, FDI from Argentina increased
    by 67.2 % to $8.2 million.

    The bulk of investments ($ 72.3 million) went to air transport,
    $565,000 to construction and $3.3 million to crop production and
    cattle breeding. -0-

    - See more at:
    http://arka.am/en/news/economy/armenia_and_argentina_may_set_up_joint_textile_com pany_ada_/#sthash.2Fst7e6w.dpuf




    From: A. Papazian
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