WASHINGTON, DC - Representative Judy Chu has once again called on the U.S. Department of Treasury to begin negotiations with Armenia on a modern Double Tax Treaty, a longstanding Armenian National Committee of America (ANCA) public policy priority that would promote job creation and expand bilateral trade between the two countries.

“We value Congresswoman Chu’s continued leadership in support of a modern U.S.-Armenia Double Tax Treaty and look forward to continuing our work with her and her Congressional colleagues in removing artificial barriers hindering the expansion of bilateral trade and investment - in IT, tourism, agriculture, and other growth sectors,” stated ANCA Government Affairs Director Raffi Karakashian.  “To capitalize on the Trade and Investment Framework Agreement (TIFA) signed in 2015 and the recent wave of new U.S. investments, this treaty needs to be put in place as soon as possible.”

In her letter to Treasury Secretary Steven Mnuchin, Rep. Chu noted that “our only existing agreement with Armenia governing tax issues is the 1973 treaty we signed with the now extinct Soviet Union.  This outdated accord – negotiated between hostile powers – is clearly insufficient to meet the modern-day requirements of our bilateral relationship.”  Rep. Chu had issued a similar call in February, 2016, to former Treasury Secretary Lew following meetings with ANCA leaders during an advocacy “fly-in”.