Trade With Armenia Could Be Much Higher -Confederation

TRADE WITH ARMENIA COULD BE MUCH HIGHER -CONFEDERATION

Czech News Agency (CTK)
February 4, 2014 Tuesday 9:12 AM EST

Jan 31, 2014 (Czech News Agency (CTK) Czech trade with Armenia is
far from filling its potential, Confederation of Industry president
Jaroslav Hanak said at a CzechArmenian business forum held on the
ocassion of a visit of Armenian President Serzh Sargsyan.

Some 100 entrepreneurs from both countries took part in the event.

‘Trade with Armenia is not at the level we would imagine,’ Hanak said,
adding that trade turnover between the two countries was worth EUR32m
in 2012 and only some EUR20.3m last year.

Czech President Milos Zeman also attended the forum. He recommended
to Armenian companies Czech cars, in particular Skoda cars, and
traditional Czech beer. Sargsyan talked about mineral resources of
his country.

‘Czech companies are examining opportunities on the Armenian
market above all in energy supplies, municipal waste management,
engineering industry, information technologies, health care equipment
and prospecting, and are also looking at business opportunities in
other segments,’ Industry and Trade Minister Jan Mladek said.

Seven memoranda were signed at the business forum, which is good news
that could intensify mutual cooperation, Hanak noted.

The Export Guarantee and Insurance Company (EGAP) signed a cooperation
agreement with new Armenian credit insurer EIAA in the presence of
both presidents.

‘The agreement will allow Czech and Armenian companies to cooperate
on projects in third countries and is, of course, very important
also for further diversification of Czech exports,’ said EGAP’s CEO
Jan Prochazka.

The agreements also concern, for example, cooperation between the
Nature protection agency (AOPK) and Armenia’s Mineral Resources Agency,
as well as between some regions and national parks in both countries.

From: Emil Lazarian | Ararat NewsPress