YEREVAN. - Prime Minister of Armenia Karen Karapetyan on Tuesday received the delegation led by Paolo Gentiloni, the Minister of Foreign Affairs and International Cooperation of Italy.

The Prime Minister noted that Italy is a friendly country for Armenia and that a high-level political dialogue exists between the states.  He also stressed that the existing level of trade and economic ties doesn’t correspond to the potential capacities, assuring that the potential for further development and expansion of economic cooperation is much higher.  Karapetyan also added that the key directions in the government program include implementation of reforms, export promotion and creation of maximally attractive conditions for investors. In this context, the Prime Minister noted that in the near future they will present the foreign partners different programs and initiatives via diplomatic channels, which can also be of interest to the Italian investors.

Noting that over 130 companies operating by Italian capital are currently registered in Armenia, Karapetyan stressed that there are wide opportunities of cooperation also in a number of other areas.

Paolo Gentilioni, for his part, underscored the necessity of expanding trade and economic ties, adding that investment programs implemented through bilateral cooperation are still underway, including the program of thermal power plant construction in Armenia. He also agreed that there are good preconditions for cooperation in different sectors of economy.

In this regard, the interlocutors attached importance to setting up an intergovernmental commission, which can contribute to strengthening business ties, as well as discussion and implementation of specific investment programs.

Paolo Gentilioni welcomed the reforms carried out by the Armenian Government, noting that the investment attraction in Armenia is also due to the membership to the Eurasian Economic Union.

Apart from this, at the meeting the Armenian Prime Minister and Italian Foreign Minister referred to the Armenian-EU relations and a number of other issues.