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United States and Armenia Work to Strengthen Ties, Expand Trade and Investment Relationship
Washington, DC – The Office of the United States Trade Representative today concluded the second meeting of the U.S-Armenia Trade and Investment Council. Assistant United States Trade Representative for Europe and the Middle East L. Daniel Mullaney and Armenian Deputy Minister of Economic Development and Investments Hovhannes Azizyan co-chaired the meeting.
During the Council meeting, in Washington, DC, officials from the United States and Armenia discussed a range of issues, including the adoption of standards, technical regulations and conformity assessment procedures, procedures for stakeholder consultation, sanitary and phytosanitary measures, customs clearance, intellectual property rights, and processes for monitoring and enforcing labor laws.
The United States is committed to building upon this partnership and greatly values its economic relationship with Armenia. Following this meeting, the United States will continue engagement in order to increase opportunities for bilateral trade and investment, as Armenia takes steps to reform its economy and strengthen its business and investment environment.
Total two-way trade (exports plus imports) between the United States and Armenia totaled $122 million in 2017. U.S. goods exports to Armenia were $55 million, up 26% ($11 million) from 2016. U.S. goods imports from Armenia totaled $67 million in 2017, up 58% ($25 million) from 2016. Leading U.S. exports to Armenia include poultry, machinery, electrical machinery, diamonds, and manmade staple fibers. Armenia predominantly exports aluminum, diamonds, woven apparel, beverages, and jam to the United States.