Germany is Armenia’s major economic partner, James Macbeth, Country Director of GTZ Yerevan office, said at today’s seminar in Tsakhkadzor (Armenia). He also stressed that Armenia exports more products to Germany than to Russia. According to him, the German government draws major attention to deepen close economic cooperation with Armenia.

German companies have made investments in Armenia’s metallurgy, in particular Zangezur copper molybdenum plant and Yerevan copper molybdenum production factory. It is the reason for favorable balance of Armenia-Germany foreign trade.