YEREVAN. – Double tax treaty is not the only way for a country to attract investment, U.S. Ambassador to Armenia Lynne Tracy said when asked about the possibility of signing such a treaty with Armenia.

Tracy said this is an issue that she had raised with the Treasury Department, and the Armenian embassy in Washington had been very persistently pursuing the possibility of double taxation treaty.  However, she added that the treaty process in US is not an easy one, and is very intensive.

“What I see in short and medium term is the importance of looking at ways to develop other sorts of regulations or creating a kind of environment that is favorable to business,” the ambassador said.

As mentioned by the diplomat, even if the treaty is a success, it will take quite some time, and “we have to see what other things we can do to ensure that businesses have as few obstacles as possible”.