YEREVAN. - Yerevan hosted Armenian-Czech business forum organized by Armenian Development Agency (ADA). The forum was attended by 12 companies from Czech side, specializing in the banking and insurance and real estate business, trading of ferroalloys, production of meat products, medical technology (research and application of stem cells), telecommunications systems, equipment for bakeries and others. The Czech delegation was formed by the Czech Trading Commission in the CIS countries.

Note that the members of the delegations change every year. As a result, at this forum the Armenian Ellipse company, which exports security products and which has plans to open an office in Prague was not presented.

The organizers noted the willingness to increase mutual investment and the implementation of new projects. The parties noted the new priority areas for cooperation, including industry, trade and tourism.

In 2010-11. the trade between Armenia and Czech Republic increased significantly, by 32%, or from $19.7 to $26.0 million.