Two-way goods trade between the United States and Caucasus region-comprising Armenia, Azerbaijan, and Georgia-totaled $1.4 billion in 2019, equivalent to the United States' 87th largest trading partner. Investment flows to and from the region remain strong due to Bilateral Investment Treaties between the United States and all three countries. Additionally, the United States and Georgia established a high-level dialogue on trade and investment in January 2012, and the United States and Armenia signed a Trade and Investment Framework Agreement (TIFA) in May 2015, both of which provide fora to address trade issues.
All three countries are beneficiaries under the Generalized System of Preferences (GSP) program, which provides specialized tariff treatment to nearly 3,400 types of products from the region.
The United States has encouraged accession to the WTO as an important means of supporting economic reform. Armenia and Georgia are WTO members, and the United States continues to work with Azerbaijan on its application through bilateral and multilateral negotiations.
U.S. goods imports from Armenia were $55 million in 2019; Azerbaijan $26 million; and Georgia $153 million.
U.S. goods exports to Armenia were $53 million in 2019; Azerbaijan $374 million; and Georgia $769 million.