Asia Times (Hong Kong), May 23 2003, NEW DELHI - Armenia is keen on promoting economic ties with India following the signing of an MoU by the industry chambers of both countries aimed at bolstering bilateral trade.
Under the MoU, both the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Union of Manufacturers and Employers of Armenia will work towards the removal of bottlenecks in the expansion of bilateral economic cooperation and facilitate company interaction.
Speaking at an interactive meeting at FICCI in New Delhi, Armenian Deputy Trade and Economic Development Minister Ara Gevorgian said several MoUs, including the agreement for protection and promotion of investment to be signed by both governments, would attract a large number of Indian companies to his country.
The minister invited Indian industry, particularly the IT sector, to participate in the Expo Armenia Exhibition to be held in Armenia in September this year. Gevorgian said this would be an appropriate platform for companies to meet and see for themselves which areas were best suited for trade and investment. He identified agriculture, diamond polishing, IT and jewelry as areas where Indian investments and joint ventures could be made.