President invited a meeting to discuss issues on the agenda of the Armenian-French economic cooperation

President Serzh Sargsyan invited today a meeting to discuss issues on the agenda of the Armenian-French bilateral economic cooperation. Reporting on the issue was the Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the French Republic Vigen Chitechian. Considering the high level of relations between Armenia and the friendly France and the fact that in recent years they have risen to the level which the two countries characterize as exceptional, at today’s meeting the stress was laid at the current state of economic ties, possibilities to develop a mutually beneficial cooperation in different areas, and prospects of the bilateral relations.

Present at the meeting were the RA Minister of Foreign Affairs Edward Nalbandian, Chairman of the parliamentary Armenia-France Friendship Group, member of the National Assembly Ara Babloyan, Minister of Economy Artsvin Minasian, high-level officials of the Presidential Administration.

“It is essential that in recent years the high level political dialogue has acquired a new quality, and the Armenian-French relations in the scientific, cultural, trade and economic areas have invigorated, the legal field has been expanded comprising currently over 40 agreements. Today we will speak exclusively of the Armenian-French economic relations and will start by stating that over 140 enterprises with French capital functioning in Armenia contribute significantly to Armenia’s economic development. Many of these enterprises are well-known all over the world and are working actively in Armenia. It is particularly important that the French Development Agency has started to work actively in Armenia. We can bring one example – the construction of a water reservoir in Vedi. It is well-known that back in 1960s-70s, a significant portion of the population of the Ararat valley was dreaming about such a reservoir. The agreement signed at the beginning of this year inspires confidence that within 3-4 years we will construct the reservoir which will be beneficial for the development of the Ararat valley and first of all for the development of agriculture. I also attach importance to fact that the Business France agency has started its work in Armenia. It should be noted that activities of these agencies and enterprises with French capital are important not only from the financial point of view but also because the European business culture is coming to Armenia. This is a positive effect which we constantly speak about. However it doesn’t mean that our trade and economic relations are at a very high level or that we are content with the situation. Second, the turnover between our countries is still not satisfying. We have huge potential for developing relations with France, and I would like to know what is done to achieve the minimum which would satisfy us; only after that it would be possible to speak about very serious developments. I am aware that this year meetings of the representatives of business circles are to be held, works are conducted at the business platform; however, events of the kind held once a year or once in two years are simply not enough. I believe that we have to give a new impetus to the activities of the Armenian Development Fund; it has to work actively not only in France but all over the world. But our state structures and funds cannot work successfully in other countries unless our embassies hold these issues in the center of their attention and fully cooperate. We have said long ago that our embassies must have working plans, must have an economic program. The deputy Foreign Minister will be appointed today who will coordinate our external economic relations, works of the intergovernmental commissions and, in general, will be preoccupied exclusively with the foreign economic relations,” said the President of Armenia. Serzh Sargsyan tasked the Minister of Economy to look into problems that companies with French capital in Armenia might have, existing programs and within the scope of abilities to assist them. He stressed that targeted work should be carried out with every investor, including French ones, to support them when necessary.

Ambassador Vigen Chitechian spoke in detail about the Armenian-French economic agenda items, steps undertaken by the Armenian Embassy in France towards cooperation with the RA state bodies in that area, existing problems and forthcoming programs. “The Armenian-French economic ties in a sense are lagging behind the political relations. Today’s discussions, for which I thank you, will certainly help us to analyze the causes and find opportunities to elevate our economic relations to the level of political relations. Up to the end of 1990s, the economic element in the Armenian-French relations was not very pronounced. The economic relations perked up, reaching the peak in 2007-2008 which was undoubtedly boosted by the organization of Armenia’s Year in France. In its preparation period as well as in the course of the Year, our country appeared in the center of attention of a number of major French companies, and many enterprises with French capital started working in Armenia. As a result, in 2011-2012 France became the second largest foreign investor in Armenia. It was also conditioned by the organization of a series of economic conferences, business forums, two of which were conducted at the Presidential level in Paris and Lyon and one with the participation of the French President - in Yerevan. I would also like to mention the economic summit organized by the French Parliament with the participation of the Speaker of the RA National Assembly. In this context, in recent years we have directed our works on one hand towards the implementation of target programs, on the other hand - towards the small and medium enterprises. To implement the target programs, the Embassy established and developed relations with French governmental agencies, particularly with the French Development Agency which stands out among them,” said Ambassador Vigen Chitechian.

At the conclusion of the meeting, President Serzh Sargsyan gave instructions to the participants of the meeting and relevant state structures related to the issues under discussion, problems, and programs.