Washington, DC. – The Armenian National Committee of America (ANCA) welcomed the realignment of the U.S.-Armenia economic dialogue away from primarily “donor-recipient”-based discussions and toward a focus on practical steps to promote a robust bilateral trade and investment partnership.

The ANCA informed the aforesaid to Armenian News-NEWS.am commenting on the results of the 22nd U.S.–Armenia Joint Economic Task Force (USATF) held in Washington on Friday.

“We welcome today’s meeting as a positive watershed in the history of the U.S.-Armenia economic relationship. The results of today’s talks hold the promise of a meaningful escalation, on a policy level, of this trade and investment partnership, and, on a more practical level, set the stage for sustainable future growth,” said ANCA Chairman Ken Hachikian.  

Commenting on the meeting, U.S. Ambassador to Armenia, John Heffern, noted that the U.S. and Armenia are moving toward a “more mature relationship,” “getting away from the ‘donor-recipient’ model and focusing on the partnership model - a partnership model that does include assistance.”

As Armenian News-NEWS.am informed earlier, on Friday, the U.S. Department of State welcomed Armenian Minister of Finance Davit Sargsyan and his delegation, including Deputy Minister of Foreign Affairs Ashot Hovakimian and Armenian Ambassador to the United States Tatoul Markarian.

Both sides held discussions on mechanisms to deepen economic ties, increase trade and investment, and advance market reforms, says the statement issued by State Department.

Armenia and the United States welcomed the new $180 million investment in Armenia’s hydropower sector by the U.S. company Contour Global. This investment, which is expected to be partially financed by the U.S. Overseas Private Investment Corporation, represents the largest U.S. private investment in Armenia’s history and the first U.S. investment in Armenia’s critical energy sector.

Participants discussed the bilateral launch of a visa liberalization process with the goal of achieving a visa-free regime for American travelers and ten-year multiple entry visas for Armenians, leading to increased bilateral trade and investment. The United States also encouraged implementation of Armenia’s civil aviation liberalization reforms.