The service sector in Armenia is the fastest growing sector in general, and our country stands out advantageously in the region in this respect.
President Serzh Sargsyan on Tuesday said the abovementioned in his address at the UAE-Armenia Investment Forum in Abu Dhabi, the capital city of the United Arab Emirates (UAE).
“Organic and greenhouse farming is growing in Armenia day by day, the produce of which, I believe, is in great demand in your country as well,” the President said. “Armenia has earned itself a reputation in canning and drying fruits and vegetables, producing juices and drinking water from our springs has long been the country’s showpiece. One of the world’s tastiest fruits - sun-drenched apricot, is indigenous to Armenia; in academic taxonomy it is called Prunus Armeniaca.
“Armenia’s free economic zones may serve as an effective platform for cooperation in these sectors. Alliance, geared towards high-tech and innovative production, as well as Meridian for jewelry, precious stones and watchmaking; operation within these zones enjoys an almost total exemption of taxes and duties. Another one is in the pipeline, a free economic zone with a broader scope, to become an effective platform for entry to the markets of the EAEU, EU and the Middle East countries. Armenia offers to the UAE businessmen a continually increasing market as Eurasian integration has expanded Armenia’s economic boundaries to nearly 1/7th of the world’s mainland.
“Along with that recent negotiations between Armenia and the EU on the Comprehensive and Enhanced Partnership have been completed. It creates a new level of our economic relations with the European Union, new opportunities for trade and investments. Armenia had already been benefitting from the GSP+ regime with the EU, which allows to export to Europe more than 6,400 products made in Armenia on preferential terms.
“I am certain that working together we will register substantial accomplishments. This is best witnessed by the unprecedented growth of trade turnover between our countries: almost 2.5 times, as of the end of last year. Whereas this year there has been an exponential increase of more than 8 times, and we intent to keep up the pace.
“I have to mention tourism here - the best medium for friendship and people to people contacts, intercultural dialogue and getting acquainted with each other. I will acknowledge with pleasure that the number of tourists visiting Armenia from the United Arab Emirates is growing progressively: it increased by 44% just in 2016. I am certain that this is far from being the limit, especially considering that today, as we speak, a visa free entry regime to Armenia takes effect for the UAE citizens. Services available for tourists improve in Armenia consistently. The service sector in Armenia is the fastest growing sector in general, and our country stands out advantageously in the region in this respect.
“Incidentally, I would like to reflect on one more circumstance: within recent years Armenia has received 20,000 people of the Armenian descent, who are equally bearers of the Armenian as well as Arab identity and culture. The presence in Armenia of such a solid cohort of bilingual individuals with remarkable entrepreneurial traditions, may directly and significantly facilitate the activities of the UAE investors in our country.
“Dear Colleagues,
“I hereby invite every one of you to discover Armenia, with its remarkable mountainous landscape, delicious cuisine, traditional Armenian hospitality, and, certainly, educated, hardworking and knowledgeable workforce, fit for contributing to any long-term project.”
