YEREVAN. - Work aimed at a more effective application of GSP system in the framework of a large trade agreement between Armenian and U.S. is underway, Armenian Economy Minister Artsvik Minasyan told journalists Wednesday.

According to him, precise terms will be named in near future, when the draft agreement is put into circulation and ratified. Minasyan also noted that work on the double taxation agreement between Armenia and U.S. also continues. “This work is carried out by the First Deputy Minister of Economy Garegin Melkonyan. According to the recent report, productive work is being carried out in this direction,” the Minister added.