Your trusted source

Armenia is ready provide the necessary conditions for Indian companies to do business in Armenia, Armenian PM Karen Karapetyan told Indian Vice President Hamid Ansari during a meeting held on Tuesday in Yerevan. Karapetyan mentioned the free economic zone on the border with Iran in Syunik, which will be operational this fall.

“Armenia’s joining the Eurasian Economic Union and the European Union’s GSP + trade regime will allow unimpeded access to these markets. Also, we suggest considering the involvement of Indian companies in jewelry, watch-making and precious stones processing activities in Meridian free economic zone in Armenia,” Karen Karapetyan said, adding that agriculture is a sector with great potential and Armenia is interested in developing cooperation in this field.

As the governmental press service reported, other highlights from the meeting included enhancing efficiency in economic cooperation by targeting two areas: exchange of technologies and agriculture. Karapetyan stressed the need for continued cooperation in all other prospective sectors. According to the Prime Minister, cooperation in the two areas may cover information technology, pharmaceuticals, healthcare and engineering. The Prime Minister added that the two countries have been boasting successful and exemplary cooperation in the IT sector in the face of the Armenian-Indian Excellence Center in Information and Communication Technologies. As Karen Karapetyan said, it has great potential as a business project, and its subsequent operation and modernization should be approached from that perspective.

The head of the Armenian government highlighted the use of new technologies in the health sector and thanked the Indian side for the assistance provided for the creation of the telemedicine network.

Mr Ansari, on his part, stressed that Armenia has gained importance through its associate relationship with the North, West and East, and India attaches great importance to bilateral cooperation in different directions. Convinced that the proposal to attract the Indian capital in Armenia’s free economic zones was quite promising, the Vice President assured that he would convey the message to his country’s business circles.

“What matters most is that Indian businesses have the ability and willingness to invest outside of India. We will closely monitor to ensure that our two countries find out new opportunities for interaction,” Hamid Ansari noted, expressing willingness to closely cooperate in the field of agricultural supplies and other industries.

In Indian Vice President’s words, Armenian and India boast long-standing and promising ties of friendship, and India is willing to fully cooperate with Armenia.

The parties took the opportunity to discuss the possibility of establishing direct air communications, which is a good way to develop trade and economic cooperation, facilitate tourism and the visa regime. In this context, the interlocutors touched upon the need to hold an Armenian-Indian business forum, expand and deepen exchanges in education and culture.