Armenian companies operating in the United Arab Emirates (UAE) will receive privileges when conducting activities in the IT sector. This is stated in the agreement on trade in services and investments, which was approved at the Cabinet meeting of the Armenian government on Thursday.

Now this agreement will be sent to the Armenian parliament for approval. It was signed in February in Abu Dhabi within the framework of negotiations on an economic cooperation agreement between the Eurasian Economic Union and the UAE.

Under the document, Armenia and the UAE shall provide preferential conditions for companies from both countries in each other's markets. In particular, the Armenian side will simplify access for Emirati businesses to the agriculture, engineering, healthcare, and education sectors. In turn, the UAE will provide privileges for Armenian companies in the IT, telecommunications, equipment repair, as well as legal services, auditing, and construction sectors.