Armenia Reaches Considerable Progress In Developing Its Economy

15.11.2010 22:24
Armenia Reaches Considerable Progress In Developing Its Economy

YEREVAN, November 15. /ARKA/. Armenia has accomplished a great deal in developing its economy, Daniel Rosenblum, Coordinator of U.S. Assistance to Europe and Eurasia, said at the Armenian-U.S. intergovernmental commission’s 19th meeting held Monday in Yerevan.

In his opinion, there is room for further development, but there are also some challenges related to transparency of the government’s activity and corruption, which affect Armenia’s economy.

He thinks the U.S. private sector’s participation in the construction would give a good impetus to attraction of foreign investments.

Rosenblum said that the 19th meeting of the commission was focused on searching ways to improve business environment in Armenia and helping Armenia attract a greater deal of investments for ensuring welfare to the country.

Trade turnover between Armenia and the United States grew 4.3% over the period between January and September 2010 to $145.1 million.

U.S.-made goods imported in Armenia over the mentioned period totaled $85.3 million (1.5% decline), and the imports from the United States’ territory totaled $102.2 million (20.5% decline) and made up 3.8% of Armenia’s import. ($1= AMD 364).--0--

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