The amount of commodity circulation between Armenia and the US increases

Strengthening of economic and trade ties between Armenia and the US was the priority of the Us Ambassador in Armenia Richard Mills’ mission in RA, the Ambassador said at the press conference organized by Armenian-American Chamber of Commerce and the Embassy of the USA in Armenia.

The Ambassador mentioned that representatives of the United States Department of Commerce visited Armenia this week to present the opportunities offered by GPS system which Armenia may take advantage of.

Answering a question on the time-frame of signing of a convention for avoiding double taxation, the Ambassador said that this question was brought up by the Government of Armenia and that signing of such a convention will be discussed if it becomes necessary for trade stimulation.

According to him, the document on double taxation adopted in 1970’s is enough for the development of trade between the countries.

The Ambassador mentioned that they are waiting for the Armenian Government’s arguments for the necessity of a new convention.

In turn, the first Deputy of the Minister of Economic Development and Investments of RA Garegin Melkonyan informed that the commodity circulation between Armenia and the US was $91 mln during January-July period of 2017 which is 38% more than the index of the same period of last year.

He mentioned that thanks to the GSP tariff system commodities produced in Armenia are imported to the US with a zero interest rate and that the products that could take advantage of thе system, in fact, took it for 100%.

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