US Ambassador to Armenia John Heffern on his video blog commemorated Global Economic Statecraft Day, a worldwide event organized by the U.S. Department of State to highlight important economic work of U.S. diplomats and development experts around the world.

“America wants to help Armenia be more prosperous and democratic. More trade and investment is important. This requires an improved business climate and more competition. Free market competition creates business opportunities and makes Armenia more attractive to foreign investors,” Heffern said informing of a public-private sector dialogue to promote competition hosted by the Embassy on June 14.

Secretary of State Hillary Clinton launched her Economic Statecraft agenda last year, because US recognize that global leadership rests on a foundation of economic prosperity and cooperation, the Embassy said in a statement.

“As such, we are working with our foreign partners to put economics at the forefront of our foreign policy and to develop economic solutions to our shared strategic challenges.

Whether businesspeople or diplomats, Americans or Armenians, the interdependent global economy means we have a shared stake in prosperity. We are working together to strengthen both,” the statement says.