"We are ready to do everything to further strengthen the economic ties between Armenia and Italy." The Minister received the Ambassador of Italy to Armenia

On February 4, RA Minister of Economy Gevorg Papoyan received the Ambassador Extraordinary and Plenipotentiary of Italy to Armenia Alessandro Ferranti. Deputy Minister Narek Hovakimyan was also present at the meeting.

At the beginning of the meeting, the Minister congratulated the Ambassador on assuming the post and wished him success in all initiatives aimed at ensuring the sustainable economic development of the two countries.

Then, issues related to the most promising directions in the economic sphere between Armenia and Italy, the opportunities for export and import within the framework of economic diversification, increase of volumes of bilateral commodity turnover, modernization of technologies, and the implementation of measures aimed at expanding trade and economic ties were discussed.

Reference was also made to the organization of B2B meetings and exhibitions with the participation of business circles of the two countries.

Minister Gevorg Papoyan noted that Armenia encourages foreign investments, in this context he presented the implemented state support programs, in particular, the state support program for the production of economically complex goods in Armenia, and suggested considering the possibility of investments by Italian companies.

Ambassador Alessandro Ferranti reported that it is planned to open an Italian Trade and Investment Agency (Agenzia ICE) in Armenia. The Minister welcomed the idea and noted: “We are ready to do everything to further strengthen economic ties between Armenia and Italy.”

The prospects for expanding existing cooperation in the tourism sector were also discussed.