Armenia And Argentina May Set Up Joint Textile Company- ADA

ARMENIA AND ARGENTINA MAY SET UP JOINT TEXTILE COMPANY- ADA

YEREVAN, October 17. / ARKA /. The head of the Armenian Development
Agency (ADA) Robert Harutyunyan told reporters today that Armenia
and Argentina may establish a joint textile company in the near future.

He said the parties had conducted some talks and are expected to sum
up their results in a couple of months.

Armenian textile products are already exported to Argentina, but in
very small quantities.

According to Harutyunyan, the statistics show that exports from
Armenia to Argentina are very small, and therefore the main objective
of the ADA is to find new ways to take Armenian goods to the Argentine
market .

According to the National Statistical Service of Armenia, Argentina
was the largest foreign investor in the Armenian real economy sector
in the first half of this year ($76 million), more than a ten times
increase from the year before. Moreover, FDI from Argentina increased
by 67.2 % to $8.2 million.

The bulk of investments ($ 72.3 million) went to air transport,
$565,000 to construction and $3.3 million to crop production and
cattle breeding. -0-

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From: A. Papazian