Borrel threatened Baku with "serious consequences". Opinion on the EU position

Emil Lazarian
Nov 14 2023
  • JAMnews
  • Yerevan

Details of the EU Foreign Affairs Council meeting

The EU mission that monitors Armenia’s border with Azerbaijan will be expanded. This proposal was approved by the participants of the meeting of the Council of Foreign Ministers of the European Union. It is reported that the EU foreign ministers took into account the “continuity of reforms in Armenia”. The decision must still be approved by the European Commission and ratified by EU member states.

The participants of the meeting also approved a proposal to intensify discussions on the liberalization of visa regime with Armenia. This was stated by EU High Representative for Foreign Affairs Josep Borrell at a press conference after the meeting. But journalists quoted his statement regarding Armenia’s security most of all:

“Any violation of Armenia’s territorial integrity is unacceptable and will have serious consequences for the quality of our relations [with Azerbaijan].”

Political observer Hakob Badalyan considers it vital to get clarification on how effective the mentioned “consequences” will be, and whether, for example, sanctions on President Aliyev and his family members are possible.

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Josep Borrel ltold journalists about the need to strengthen the EU observation mission stationed on the Armenian border. In this regard, the number of observers patrolling the territory will be increased.

“The EU will be very attentive to any attempts of internal and external destabilization in Armenia. The Council of Ministers discussed how to strengthen cooperation with Armenia and support its democratically elected authorities, its sustainability, security and ensuring the continuation of reforms in the country. We will also consider possible support to Armenia within the framework of the European Peace Facility,” he said.

The European Peace Facility is a mechanism through which Brussels provides funds to non-EU countries to improve their defense capabilities, prevent conflict and promote peace. Through this mechanism, the EU has supported Ukraine, Georgia and Moldova.

Borrell also called for the resumption of negotiations between Armenia and Azerbaijan through the mediation of the head of the European Council. He stated that a peace agreement could be signed and the EU is committed to continue its mediation role.

According to Beniamin Poghosyan, Azerbaijan may resort to military actions and present them as “liberation of its territories”

This is how Deputy Foreign Minister Paruyr Hovhannisyan commented on the possible expansion of the EU observer mission on the Armenian-Azerbaijani border. He told journalists that this issue has been discussed for a long time. But it is not clear yet by how many the number of observers will be increased.

Commenting on the beginning of negotiations on visa liberalization with the EU, he noted that Yerevan seeks to complete them as soon as possible. He believes that the process will intensify in the coming months and considers it important that none of the EU countries has opposed it.

Armen Grigoryan spoke about the “tools” for ensuring the country’s security at a conference in Brussels called “Armenia-Europe: Armenia’s Strategic Future”

Political observer Hakob Badalyan told JAMnews that when assessing the statement on violation of Armenia’s territorial integrity, one should understand what exactly EU officials mean by integrity. He says that the border is indivisible, and Azerbaijan demands the return of enclaves.

The expert emphasizes that in the current world situation, all such “international formulations” lose their force and significance, yielding to the factor of force:

“The question arises how rational it will be to expect that statements about territorial integrity can mean anything and be a deterrent for Azerbaijan.”

He believes that the wording “severe consequences” in Borrell’s statement also needs clarification:

“Are we talking about severe consequences in the form of some kind of sanctions that Aliyev can easily circumvent or compensate for? Or would they be severe consequences directly for Aliyev’s family? The latter could in a sense change the situation.”

The analyst calls the expansion of the EU observation mission and the discussion of visa liberalization a “bonus” offered to Armenia. In his opinion, in this way the EU is trying to bring Baku back to the Brussels negotiating platform and achieve the signing of a protocol document, if not a peace treaty.

Badalyan warns that one should not allow visa liberalization with the signing of a peace agreement:

“Yerevan is offered one thing, expecting to get something else. If it is connected with the peace agreement between Armenia and Azerbaijan, then the bonus in the form of visa liberalization should be definitely rejected. It is much more important for us what will be the content of the agreement between Armenia and Azerbaijan.”

He recalls that during her visit to Armenia, German Foreign Minister Annalena Berbock avoided the topic of closer EU relations with Yerevan. She stated that “peace between Armenia and Azerbaijan is important and a priority.” According to Badalyan, this showed that the EU “considers its relations with the region as a whole and is not ready to significantly promote relations with Yerevan, which would lead to differentiation with Azerbaijan.

Badalyan states that today the power factor prevails over the appeals and statements of the international community. And Azerbaijan’s power is formed in interrelation with such actors as Turkey and Israel:

“Despite the appeals of the international community, Israel bombs Gaza and solves its problems, including at the cost of killing civilians. To the extent that EU statements deter Israel from solving its problems militarily, they will also deter Azerbaijan if Baku sees an opportunity to use force against Armenia.”

https://jam-news.net/details-of-the-eu-foreign-affairs-council-meeting/ 


Putin punishes Russia’s key ally

Hovsep Chakrian
WND
Nov 2 2023

By David Boyajian

Oddly, few Westerners who write about the South Caucasus have ever grasped Christian Armenia's significance as Russia's only ally and military outpost among the region's three countries.

Simply put: Were Russia to lose Armenia, the U.S./NATO/EU and pan-Turkism would inevitably dominate the Caucasus/Caspian and, perhaps, beyond. Putin understands this.

Georgia and Azerbaijan are, after all, headed away from Russia.

Though always under Russian pressure, Georgia is an unofficial NATO candidate with sizable Western investments. NATO countries and Israel have been modernizing its military. Tbilisi is also the middleman for Baku's gas/oil pipelines extending to Turkey and elsewhere.

Azerbaijan's fossil fuel deposits, pipelines and U.S./European commercial/economic ties are well-known.

Less talked about are Azerbaijani President Ilham Aliyev autocracy and its pan-Turkic ideology; formal alliance with NATO's Turkey; deployment of international terrorists; dependence on Israeli weapons/military prowess; and longtime backing by America's Jewish lobby.

Elected ostensibly as a democratic reformist in 2018, Armenian Prime Minister Nikol Pashinyan grew friendlier with the West than had Yerevan's previous leaders.

This enraged Putin. That's problematic: Armenia's dependent on its ally for gas, oil, the nuclear power plant, weapons, remittances from Armenians in Russia, and more. However, Pashinyan didn't break with Moscow.

Nevertheless, Putin resolved to punish and humiliate Armenia to force it totally and irrevocably under Russian domination.

Punish and humiliate

In 2020, Putin silently but indisputably greenlighted Azerbaijan, Turkey, international terrorists and Israel to sledgehammer Christian Armenia and Armenian-populated Artsakh/Karabagh into submitting to Russia.

We know that near its borders Russia is extremely NATO-and-terrorist-phobic.

And yet: In Azerbaijan's 44-day war in 2020 (Sept. 27-Nov. 9) against Artsakh's Armenians, Turkey openly delivered American-supplied F-16s, Bayraktar drones containing NATO parts, additional weapons, generals, troops, and several thousand jihadist terrorists to Azerbaijan.

Tellingly, the Kremlin was unruffled.

Moreover, Tel Aviv – the West's friend, not Moscow's – overtly resupplied Baku with high-tech weapons.

The Kremlin, again, voiced no particular alarm.

Post-war, however, Russia revealed that it'd been in charge all along. During the fighting, for instance, it was Moscow – not Baku – that had offered Yerevan a "peace" deal (which Pashinyan declined).

Artsakh – gifted to Azerbaijan by Stalin but indigenously Armenian for millennia – lost the war, as did Armenia. Buffer zones around Artsakh gained by it in the early 1990s were also forfeited.

Putin's fingerprints were, not surprisingly, all over the Nov. 9, 2020, agreement among Moscow, Yerevan and Baku.

In what remained of Armenian-populated Artsakh,the pact awarded Russia:

  • An armed, 2,000-troop "peacekeeping" mission plus guardianship over the only road – the Lachin corridor – between Artsakh and Armenia proper.
  • Military control over future routes through Armenia between Azerbaijan and its Nakhichevan exclave.

That Russia greenlighted a war against Armenia/Artsakh isn't a total surprise.

Moscow has always sought to keep Yerevan apprehensive and dependent. The Kremlin has for decades permitted repeated Azerbaijani attacks on Armenia despite Yerevan's defense pacts with Moscow and the Russian-led CSTO alliance.

None of this is intended to defend PM Pashinyan. He has failed and should resign.

And please ignore the nonsense that Russia, shaken by setbacks in Ukraine, couldn't prevent the 2020 war. Putin's invasion of Ukraine came much later: February of 2022.

Punishment without end

Throughout 2021-2023, Azerbaijan invaded, occupied, and fortified over 80 square miles of Armenia's internationally recognized southeast.

Hurling the Azerbaijani attacks in Armenia's face, the Kremlin sarcastically termed them mere "border demarcations." The Azerbaijanis are still there.

Russia/CSTO had again willfully violated their defense treaties with Armenia.

Meanwhile, despite Russia's 2020 pledge, its "peacekeepers" permitted incessant Azerbaijani assaults on Artsakh from 2021 on.

Then, in December of 2022, Azerbaijan sent military and other officials disguised as "eco-activists" to block the Lachin corridor.

The armed "peacekeepers" could've moved the Azerbaijanis off the road in 5 minutes. Instead, the Russians feigned helplessness as food and medical supplies to Artsakh were blocked. Meanwhile, the well-fed Russian soldiers offered to sell food to the starving Armenians at inflated prices.

Baku also cut off gas, electricity, and communications to Artsakh. Yet again, despite its signed agreement, Moscow said little and did nothing.

The blockade, declared former International Criminal Court prosecutor Luis Moreno Ocampo, fit the U.N. definition of genocide: "Deliberately inflicting on the group conditions of life calculated to bring about its physical destruction."

Thus, "Christian" Russia and its half-Turkic Defense Minister Sergei Shoigu blatantly violated the Nov. 9, 2020, accord while Artsakh was attacked and starved.

On Sept. 14, 2023, Acting U.S. Assistant Secretary of State for European Affairs Yuri Kim testified that the Biden administration "will not countenance any effort – short-term or long-term – to ethnically cleanse Artsakh."

Then came Sept. 19's genocidal cleansing.

Genocidal cleansing

Azerbaijan launched a genocidal military assault on Artsakh. 120,000 Armenians fled their democracy of 30-plus years lest they be murdered if they stayed. Some were, in fact, killed, tortured and murdered.

Russian "peacekeepers" let it happen. No surprise.

Artsakh's millennia-long nationhood – gone in a flash.

The White House clearly "countenanced" the cleansing, as did Europe and the U.N. America often prioritizes authoritarian regimes over human rights and common decency.

The Lemkin Institute for Genocide Prevention recently issued a Red Flag Alert "due to the alarming potential for an invasion of Armenia by Azerbaijan in the coming days and weeks."

The geopolitical future

Russia has certainly not finished punishing Armenia and Pashinyan.

Invasions by Azerbaijan and even Turkey are quite possible.

In that case, Russia would likely "save" Armenia, which would sign over its sovereignty to Moscow. Armenia might even become a Russian Union State, like Belarus.

Assuming near total Russian control of Armenia, the U.S./NATO/EU would find it very difficult to totally penetrate the Caucasus even if Armenia's borders with Turkey/Azerbaijan eventually open.

Putin's been trying for years to entice Turkey and Azerbaijan into his web. The Turkic twins have played along but aren't fooled.

But as Russia rightly fears pan-Turkism, it would probably permit only limited penetration through Armenia by Ankara and Baku. Thus, a Russian-controlled Armenia would become a buffer, not a U.S./NATO/EU pathway. But nothing is certain.

To keep the West totally at bay, Russia could invade Georgia and control the pipelines originating from Azerbaijan.

Another danger to Russia would be an extraterritorial corridor (not just the existing roads) from Turkey through northwest Iran – occupied by masses of Azeri speakers – to Azerbaijan.

That's one reason why Turkey, Azerbaijan, and probably the U.S. and Israel wish to dismember Iran, attach its northwest to Azerbaijan, and cut off Armenia's access to Iran. Moscow and Tehran know this well.

Will Russia's punishment of Armenia ultimately benefit the Kremlin?

Or will Russia receive its just desserts for the vile, unwarranted punishment of its ally?

The Economic Landscape of Armenia: A Balancing Act of Salaries and Living Costs

Anna Tamamian
Gillett News
Nov 12 2023

Armenia, an emerging economy nestled in the South Caucasus region, has been making remarkable progress in recent years. With its burgeoning industries and increasing foreign investments, one can’t help but wonder: do people get paid well in Armenia?

The Current Economic Progress

Armenia has enjoyed consistent economic growth during the past decade, particularly in fields like information technology, tourism, and agriculture. This upward trajectory has led to a surge in employment opportunities and an overall better quality of life for many Armenians. However, it’s worth mentioning that compared to certain European nations, the average salary in Armenia remains relatively modest.

Analyzing Salary Levels

Based on recent statistics from the National Statistical Service of Armenia, the average monthly salary in the country amounts to approximately 200,000 Armenian Drams (around $400). Nevertheless, this figure varies significantly depending on the industry and occupation. Professionals engaged in the IT sector or multinational corporations generally earn higher salaries compared to those in other sectors.

Factors Influencing Salary Levels

Multiple factors contribute to the variation in salary levels across Armenia. One of the most significant factors is the cost of living, which is generally lower than that of many European countries. This means that even with a comparatively lower salary, individuals can still maintain a reasonably comfortable lifestyle. Moreover, the level of education and work experience significantly impacts salary levels in Armenia.

FAQ

Q: Can one expect career advancement opportunities in Armenia?
A: Absolutely! Armenia’s expanding economy presents diverse opportunities for professional growth, particularly within industries like IT, finance, and tourism.

Q: How does the cost of living in Armenia compare to that of other nations?
A: The cost of living in Armenia is notably lower than in many European countries. Consequently, individuals in Armenia can adequately afford housing, food, and other essential living expenses.

Q: Does the Armenian government strive to enhance salary levels in the nation?
A: Yes, the Armenian government has devised various strategies to attract foreign investments and foster economic growth, indirectly contributing to improved salary levels for its citizens.

In essence, while the average salary in Armenia might be lower compared to certain European countries, the country’s economic growth and lower cost of living provide individuals with opportunities for a comfortable livelihood. With the continuous development of industries and the implementation of government initiatives, the future holds promise for further improvements in salary levels within Armenia.

Exploring the Charm of Armenia: A Hidden Gem in South Caucasus

Emil Lazarian
Gillett News
Nov 12 2023

Armenia, a captivating landlocked country nestled in the South Caucasus region of Eurasia, has caught the attention of adventurous souls in search of a new place to call home. Bursting with a rich tapestry of history, mesmerizing landscapes, and a vibrant cultural scene, Armenia provides a living experience like no other. Let’s delve into the key aspects that make Armenia a captivating destination worth considering.

The Affordability Advantage: One of Armenia’s standout features is its relatively low cost of living compared to many other countries. From housing and transportation to daily expenses, everything tends to be pocket-friendly, making it an appealing option for those looking to stretch their budget without compromising on quality.

A Life of Quality: Armenia takes pride in offering its residents a high quality of life, defined by a strong sense of community and a rich cultural heritage. This peaceful and secure environment makes it an ideal setting to raise a family. Moreover, the well-developed healthcare system ensures easy access to quality medical services.

Embracing Economic Opportunities: Although Armenia has encountered economic challenges in the past, it has been making remarkable progress in recent years. The country is witnessing a booming tech industry, with an upsurge of startups and IT companies. Furthermore, Armenia’s strategic location between Europe and Asia opens doors for trade and business opportunities.

Education, a Priority: Education lies at the heart of Armenian society, boasting a high literacy rate and a well-established educational system. The country is home to several esteemed universities and research institutions, creating a conducive environment for academic growth and exploration.

From Ancient Monasteries to Majestic Landscapes: Armenia’s awe-inspiring landscapes, including the famed Mount Ararat and the picturesque Lake Sevan, magnetize tourists from all corners of the globe. The country offers a myriad of outdoor activities, ranging from invigorating hikes to thrilling ski adventures, not to mention the opportunity to explore ancient monasteries and immerse oneself in history.

A: Armenian, which belongs to the Indo-European language family, serves as the official language of Armenia.

A: While the job market in Armenia can be competitive, opportunities do exist, particularly in the flourishing tech sector and the burgeoning tourism industry.

A: Armenia is widely regarded as a safe country with a low crime rate. Nonetheless, exercising caution and adhering to common safety practices is always advisable.

In a nutshell, Armenia embodies a compelling amalgamation of affordability, quality of life, economic potential, and natural splendor. While it may not suit everyone’s taste, it undeniably holds tremendous allure for those seeking a fresh and enriching living experience.

Armenia: Yan Girls Reveal How They Were Selected for Junior Eurovision

Emil Lazarian
EuroVoix
Nov 12 2023

Speaking to Armenian media, Yan Girls have revealed how they were selected to represent Armenia at Junior Eurovision 2023.

Yan Girls have spoken to Tert.am regarding their journey to the Junior Eurovision Song Contest 2023 in Nice, France. The girls revealed that the idea for competing in the contest came when an open call for singers for the contest was made by AMPTV. Nane explained:

“Our mothers are friends and decided to introduce us, because singing and music unite us all. We saw that Channel One had released an announcement where we could apply for Junior Eurovision 2023. As a result, we created this group and participated in the pre-election phase,”

At the audition stage the group had to perform two songs they chose “Revolting Children” from Matilda and “Bang-Bang”. Nensi added:

“We were waiting for our turn and, I can say, we were all indescribably excited because the first performance was about to take place. We had no idea who the jury would be, but we saw some familiar faces. When we got on the stage, we felt the freedom and positive emotions, I think that was the important factor that we were able to give a good performance,”

The girls were surprised when they were chosen as they had been told that there was a second round of auditions. Kamilla explained:

“We were told that there is another pre-election round ahead, that we should be auditioned again, filmed and then make a final selection. We went with our mothers and were sitting in the room when they announced that we will represent Armenia this year”

Looking ahead to the contest in Nice, France, Nane told Tert that:

“We realise the responsibility placed on us. Maybe this is one of the most responsible stages of our career, when we have to represent Armenia in an international competition. We work hard, come to rehearsals, take part in shootings in order to present ourselves at the competition as well as possible, perform well and live up to the expectations of our compatriots”

Yan Girls is formed of Nane, Nensi, Kamilla, Syuzana and Aida. The group are styled on K-pop artists but with an Armenian flare. Aida is 9 years old, Syuzanna is 10 and Nane, Nensi and Kamila are 11.

The song was composed by tokionine, with lyrics by Vahram Petrosyan and Maléna. Maléna won the Junior Eurovision Song Contest 2021 in Paris, France for Armenia, while tokionine was behind her winning song “Qami Qami”.

Image Source: AMPTV | Source: Tert.am

https://eurovoix.com/2023/11/12/yan-girls-reveal-selected-for-junior-eurovision/

Armenia receives French armored vehicles instead of Ukraine

Emil Lazarian
Nov 12 2023
NEWSARMY
ByDylan Malyasov


Armenia has reportedly taken delivery of the first batch of Bastion armored vehicles from the French defense company Arquus, formerly known as Renault Trucks Defense.

The announcement was made by journalist and analyst Leonid Nersisyan on Sunday, accompanied by photos of the armored vehicles spotted in the Georgian port of Poti en route to Armenia.

It is worth noting that the Bastion armored vehicles received by Armenia are the same vehicles that Arquus pledged to deliver to Ukraine in 2022 from its stock of 24 units.

The transfer of these vehicles to Ukraine was initially reported by the French newspaper “La Tribune” on October 3, 2022, stating that the French manufacturer Arquus, a part of the Swedish group Volvo, would provide Ukraine with 20 Bastion armored vehicles.

It is noteworthy that negotiations regarding the delivery of these armored vehicles to Ukraine have been ongoing for some time, as reported by security and defense correspondent Elizabeth Gosselin-Malo in April 2023.

“Company officials say talks on this have been ongoing for some time but nothing finalized (24 in stock),” she stated on X, formerly known as Twitter.

The acquisition of the Bastion armored vehicles is seen as a significant step in bolstering Armenia’s defense capabilities amid regional security concerns.

https://defence-blog.com/armenia-receives-bastion-armored-vehicles-arquus/

Armenian adventures: Must-do activities in the country

Jhanna Virabian
News Bytes App
Nov 12 2023

By Apurva P
Nov 12, 2023

Include these activities in your next Armenian visit

Tucked away in the South Caucasus, Armenia with a rich past offers breathtaking scenery and a dynamic culture that begs to be discovered.For those who are ready to go off the usual path, Armenia provides a wealth of experiences, even though it might not be the first place that springs to mind when planning a trip.Here are a few places to explore.

2/5

Go skiing at Tsaghkadzor

Nestled just a short drive from Armenia's capital, Yerevan, Tsaghkadzor stands as a captivating haven for ski enthusiasts.Renowned as a premier tourist destination for skiing and snowboarding, Tsaghkadzor boasts multiple well-equipped ski stations.There's a ski lift to transport enthusiasts between stations, while a scenic ropeway presents an unparalleled vantage point from the summit, adding a touch of awe to the overall experience.

3/5

Fly in the Wings of Tatev

At about 5750 meters, the Wings of Tatev is thought to be the world's longest reversible cableway. The entire trip across the Vorotan River valley takes around twelve amazing minutes.It's the most dramatic, quickest, and shortest path to the Tatev Monastery.Fly above the Vorotan Gorge and take in the breathtaking views from 320 meters above the ground when you ride the cableway.

4/5

Visit Old Khndzoresk cave village

Khndzoresk cave settlement is the largest network of natural and artificial caverns. It is perched on a hillside with a few churches and three schools nearby.This ancient settlement, carved into the soft volcanic rock, offers a glimpse into a way of life that dates back centuries.The village was inhabited until the mid-20th century and showcases the unique architecture of the region.

5/5

Climb the Cascade

See Yerevan's monument honoring the Soviet Union's victory in World War II by climbing the Cascade. As you ascend the 572 steps, you will be treated to stunning panoramic views of the city and the snow-capped peaks of Mount Ararat in the distance.The Cascade is composed of several levels joined by imposing staircases and embellished with modernist sculptures and fountains.

Exploring Business Opportunities in Armenia

Emil Lazarian
Gillett News
Nov 11 2023

Armenia, a hidden gem nestled in the South Caucasus region, is gaining recognition as a promising destination for entrepreneurial ventures. Its flourishing economy, business-friendly atmosphere, and highly skilled workforce make it an attractive choice for both local residents and international investors. Let’s delve into some sectors that hold immense potential for success:

1. Technology and IT Services: Boasting a vibrant startup ecosystem, Armenia has become a hotbed for technology and IT services. With a pool of well-educated professionals and a supportive government, launching a tech-based enterprise like software development, mobile app development, or IT consulting can prove highly lucrative.

2. Tourism and Hospitality: With its captivating history, breathtaking landscapes, and rich cultural heritage, Armenia is a paradise for tourists. Establishing a hotel, guesthouse, or travel agency can be a highly profitable venture in this sector. Furthermore, offering unique experiences such as guided tours, adventure activities, or culinary journeys can attract both domestic and international visitors.

3. Agribusiness: Blessed with fertile lands and a favorable climate, Armenia provides excellent conditions for agribusiness. Entrepreneurs can explore opportunities in organic farming, wine production, dairy farming, or other agricultural activities to tap into the increasing demand for high-quality, locally sourced products.

FAQ:

Q: What is a startup ecosystem?
A: A startup ecosystem refers to the interconnected network of resources, support organizations, and infrastructure that foster the growth of startups in a specific region or industry.

Q: What is agribusiness?
A: Agribusiness encompasses all activities related to agricultural production, processing, distribution, and marketing of agricultural products.

Q: Is it easy to start a business in Armenia?
A: Armenia has implemented various business-friendly reforms, simplifying the process of starting a business. The government offers support programs, tax incentives, and streamlined procedures to promote entrepreneurship.

Q: Are there funding opportunities for startups in Armenia?
A: Yes, Armenia provides a range of funding opportunities for startups, including venture capital funds, angel investors, and government grants. The country also hosts numerous startup competitions and accelerators that offer financial support and mentorship.

In conclusion, Armenia offers a conducive environment for budding entrepreneurs, with sectors like technology, tourism, and agribusiness offering exceptional prospects. With the right idea, resources, and determination, entrepreneurs can thrive in this dynamic and growing economy. So, why not consider Armenia as your next entrepreneurial destination?

The Tax Landscape in Armenia: Balancing Taxes and Business Growth

John Hovhannisian
Gillett News
Nov 11 2023

Armenia, known for its economic growth and investment opportunities, has often faced questions regarding its tax system. Many wonder whether the country imposes high taxes on its citizens and businesses. By delving into the tax landscape of Armenia, we can gain a deeper understanding and explore some commonly asked questions.

Understanding Armenia’s Tax System

Armenia operates under a progressive tax system, wherein individuals and businesses are taxed based on their income and profits, respectively. The country imposes a flat income tax rate of 23%, which applies universally, irrespective of income levels.

FAQ: Answering Common Queries

1. Are there any additional taxes in Armenia?

Indeed, apart from income tax, individuals may also have to pay social security contributions, which are deducted from their salaries. Social security contribution rates currently stand at 5%.

2. How does Armenia’s tax system compare to other countries?

When compared to neighboring countries like Georgia and Azerbaijan, Armenia’s tax rates can be considered moderate. However, countries in Western Europe generally have higher tax rates.

3. Are there any tax incentives or exemptions in Armenia?

Certainly, Armenia offers various tax incentives and exemptions aimed at attracting foreign investments and fostering economic growth. These incentives encompass reduced tax rates for specified industries, exemptions for certain types of income, and tax holidays for newly established businesses.

4. How does the tax system impact businesses in Armenia?

Although the tax system in Armenia may appear burdensome, it is crucial to consider the broader business environment and the tax incentives offered by the country. In recent years, the Armenian government has actively pursued reforms to simplify tax procedures and reduce bureaucratic hurdles, making it more business-friendly.

In this light, it is evident that while Armenia maintains a progressive tax system with a flat income tax rate of 23%, assessing the broader tax incentives and improvements made to the business environment is vital. Despite the tax rates, Armenia has shown dedication to cultivating a favorable landscape for businesses and attracting foreign investments.

Source: [TaxSystemNews.com](https://www.taxsystemnews.com)

A Beginner’s Guide to Investing in Armenian Stocks

Kevo Kalantarian
Gillett News
Nov 11 2023

Armenia, a small yet rapidly developing country in the South Caucasus region, presents a wealth of investment opportunities for those looking to venture into the world of stocks. With its flourishing economy and thriving stock market, buying Armenian stocks can be a profitable endeavor. If you’re eager to get started on this new investment journey, here’s a step-by-step guide that will help you navigate the process.

Step 1: Selecting a Brokerage Firm
To buy stocks in Armenia, you’ll first need to choose a brokerage firm that operates within the country. Several reputable firms, such as Ameriabank, Araratbank, and Converse Bank, offer their services to investors. Take the time to compare the various firms based on factors like fees, services, and customer support to find the one that best suits your needs.

Step 2: Opening a Brokerage Account
Once you’ve decided on a brokerage firm, the next step is to open an account with them. This typically involves providing personal information and identification documents. Although the exact process may vary slightly between firms, it is generally a straightforward procedure that can be completed online.

Step 3: Funding Your Account
After successfully opening your brokerage account, it’s time to fund it. Most firms allow you to deposit funds through bank transfers or other accepted payment methods. The minimum deposit required may vary depending on the firm you have chosen.

Step 4: Researching and Selecting Stocks
Before making any investment decisions, it’s crucial to conduct thorough research on the stocks you’re interested in. Analyze the financial performance, market trends, and future prospects of the companies you’re considering. This will enable you to make well-informed decisions and minimize potential risks.

Step 5: Placing Your Order
Once you’ve selected the stocks you wish to purchase, you can place an order through your brokerage account. This can usually be done online or by getting in touch directly with your broker. Provide the desired number of shares you want to buy and the price at which you’re willing to make the purchase.

Q: What is a stock?
A: A stock, also known as a share or equity, represents ownership in a company. When you buy stocks, you become a shareholder and have the potential to earn profits through dividends or capital appreciation.

Q: How can I monitor my investments?
A: Most brokerage firms offer online platforms or mobile applications that allow you to monitor your investments in real-time. These platforms provide access to market data, stock prices, and other relevant information.

Q: Are there any risks involved in buying stocks?
A: Yes, investing in stocks carries inherent risks. Stock prices can be volatile, and there is always a possibility of losing money. It’s important to diversify your portfolio, conduct thorough research, and seek professional advice if needed.

Q: Can foreigners buy stocks in Armenia?
A: Absolutely! Foreigners are permitted to buy stocks in Armenia. The process is similar to that of Armenian residents and requires opening a brokerage account with a local firm.

In essence, purchasing stocks in Armenia involves carefully selecting a brokerage firm, opening an account, funding it, conducting thorough research, and placing orders. As is the case with any investment, it’s essential to comprehend the associated risks and make informed decisions. By following these steps and staying well-informed, you can participate in Armenia’s growing stock market and potentially achieve significant rewards.