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The Armenian-Chinese business forum has kicked off in Yerevan today.

The forum hosts 22 Chinese companies representing various economic sectors.

The opening of the forum was attended by Armenian Prime Minister Tigran Sargsyan, Minister of Economy Tigran Davtyan, member of the Standing Committee of Political Bureau of the Central Committee of the Communist Party of China (CPC), Li Changchun, Chinese Vice Minister of Commerce, Zhong Shan and other officials.

According to Tigran Davtyan, “the forum is a good platform to discuss ways of expanding economic cooperation.”

The Minister noted that the relations between Armenia and China have been developing dynamically recently, and China has become an important business partner for Armenia.

Trade turnover between Armenia and China increased by 44 percent in 2010 (USD 436.7m ). Currently 41 enterprises with the Chinese capital are registered in Armenia.

T. Davtyan stressed that Armenia has high-level political relations with China.

“We must seek to raise our trade and economic relations to a higher level,” according to T. Davtyan.

The Minister highlighted that our legislations meet the international standards, and there are favorable conditions for economic cooperation.

Member of the Standing Committee of Political Bureau of the Central Committee of the Communist Party of China (CPC), Li Changchun addressing the event said that both Armenia and China have overcome the global financial and economic crisis and now ensure economic growth.

In his words, China is the leading trading partner of Armenia, but there is still much work to do, taking into consideration the potential of both countries.

Li Changchun pledged that China will support exports from Armenia.

“Yesterday I attended a reception organized by the Armenian President, and it was an honor to taste Ararat Armenian Brandy. Unfortunately, this Brandy is not sold in China. I hope your representatives will visit China to advertise the Armenian Brandy with the support of their Chinese colleagues,” L Changchun said adding that he liked Armenian grapes very much.