WASHINGTON, DC. – House Foreign Affairs Committee Chairman Ed Royce (R-CA) and Congressional Armenian Caucus Co-Chair Frank Pallone (D-NJ) were among the first Congressional leaders to welcome the May 7th signing of the U.S.-Armenia Trade and Investment Framework Agreement (TIFA), a longstanding policy priority for the Armenian National Committee of America (ANCA).

Chairman Royce immediately tweeted "I'm pleased the US and #Armenia have signed a Trade and Investment Framework Agreement," welcoming the measure which will establish a United States-Armenia Council on Trade and Investment to address bilateral trade and investment and related issues and examine ways to strengthen the trade and investment relationship between the two countries.

Congressman Pallone explained, "The Trade and Investments Framework Agreement signed between the Republic of Armenia and the United States represents our shared commitment to mutual prosperity.  With this agreement, I am certain that the United States and Armenia will continue to focus on our shared trade and investment interests.  Armenia has always been a proud ally of the United States and I am pleased that we have made progress that will support workers in both of our nations."

The ANCA, which has long worked with the American Chamber of Commerce in Armenia, Armenia-based U.S. businesses and Armenian American community groups, welcomed the move and immediately called for further expansion of U.S. -Armenia economic relations through the negotiation of a bilateral treaty ending double taxation on businesses and investments.

Armenia and U.S. signed Trade and Investments Framework Agreement last week. By 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.