Armenian National Committee of America (ANCA) welcomes the signing of the US-Armenian Trade and Investment Framework Agreement, according to the ANCA Press Service.
ANCA Executive Director Aram Hamparian welcomed the agreement, noting "Today's signing of the TIFA represents a major step forward in U.S.-Armenia economic relations - the creation of jobs, the fostering of hope, the creation of opportunities in both countries. At a broader level, it is a stepping stone to even greater cooperation. We would like to see, for example, the U.S. and Armenia begin negotiating a Tax Treaty. Double taxation on U.S. and Armenia firms is a hindrance to the growth of economic relations, a deterrent to potential investors from either side, and needs to be removed."
The ANCA has launched an online advocacy campaign to Treasury Secretary Jack Lew, urging him to begin preparations for an U.S-Armenia Tax Treaty and alerting Members of Congress about the benefits of such an agreement.
Foreign Minister Edward Nalbandian who is in Washington DC within the delegation headed by President Serzh Sargsyan and Assistant United States Trade Representative Dan Mullaney, in presence of Armenia’s President, signed Trade and Investments Framework Agreement between the Republic of Armenia and the United States of America on May 7. According to the Agreement, Armenia and the United States affirm their intention to create investment friendly environment and promotion of turnover and trade between the two states.
