YEREVAN. – Armenia needs stability to attract investments from the EU, Petros Sourmelis, Head of Unit, Directorate General Trade, European Commission told reporters on Tuesday.
His remark came at the first meeting of the Committee on Trade-Related Cooperation between Armenia and the EU held in Yerevan on Tuesday.
According to him, the main purpose of the visit of the EU delegation to Armenia is to implement reforms that contribute to the creation of a favorable investment and business environment.
“The reforms will affect the regulation field. New regulations are being developed now, aimed at ensuring equal competitive conditions for business. To ensure equal conditions for enterprises, both state-owned or partially state-owned, and private, especially for IT startups, are our top priorities,” the European official said.
Touching upon the development of trade relations, he noted that the statistic indicators on trade turnover between the EU and Armenia are encouraging as the foreign trade turnover between Armenia and the EU exceeded $1 billion in 2017.
“However, there are some gaps in terms of certain commodity groups, particularly, the lack of volume of agricultural products exported from Armenia. But this gap is being gradually filled,” Sourmelis noted