Armenian minister of economy Gevorg Papoyan on Tuesday received the new Italian ambassador to Armenia, Alessandro Ferranti.

At the beginning of the talk, the minister congratulated the ambassador on assuming the post, and wished him success in all initiatives aimed at ensuring the sustainable economic development of the two countries.

Then, the most promising directions in the economic sector, export and import opportunities within the framework of economic diversification, increasing the amount of bilateral trade, modernization of technology, and implementation of measures to expand trade and economic ties between Armenia and Italy were discussed.

Reference was made also to the holding of B2B meetings and exhibitions with the participation of business circles of the two countries.

Minister Papoyan noted that Armenia encourages foreign investments, and, in this context, he presented the state support programs being implemented in Armenia—in particular, the state support program for the production of economically complex goods in the country—, and suggested considering the possibility of investments by Italian companies.

In turn, Ambassador Ferranti reported that an office of the Italian Trade Agency (Agenzia ICE) is planned to be opened in Armenia. The Armenian economy minister welcomed the idea and noted: “We are ready to do everything to further strengthen economic ties between Armenia and Italy.”

The prospects for expanding cooperation in the tourism sector were also discussed.