President Armen Sarkissian: analysis in the report on Armenia’s investment policies has been done in the context of current challenges and opportunities

In the framework of the consultations with international partners on overcoming the pandemic of coronavirus, President of Armenia Armen Sarkissian spoke today on the phone with James Zhan, Director of Investment and Enterprise, United Nations Conference on Trade and Development (UNCTAD).

President Sarkissian underscored the important role of this internional specialized structure in evaluating the impact of the new coronavirus on the global economic development. The President hailed the analysis of the UNCTAD on the impact of the COVID-19 for the global economy.

Armen Sarkissian referred to their August 2019 meeting during which he proposed to write the report of the UNCTAD on Armenia’s investment policies against the backdrop of the global challenges and opportunities. President Sarkissian said that today, when the coronavirus pandemic has become probably the greatest challenge for the world economy, his proposal is more than warranted and relates to all economies of the world.

President Sarkissian also noted that the updated version of the report on Armenia will be very important and valuable for our country, which will include the impact of the COVID-19 on our economy, possible reprecussions, and recommendations on addressing them.

James Zhan noted that he fully shares President’s viewpoint that the expansion of international cooperation is necessary to overcome the consequences of the coronavirus. He asked the President of Armenia, who is also the President of the UNCTAD Panel of Eminent Persons, to initiate consultations with the members of the Panel to exchange information and data.

James Zhan expressed also readiness to update the report on Armenian as soon as possible. The parties agreed that consultations with President Sarkissian on this and other topics would continue in the coming weeks as well.

Back in October 2018, during his working visit to Geneva, President Sarkissian reached an agreement with the Secretary-General of UNCTAD Mukhisa Kituyi that the UNCTAD would prepare a report on Armenia’s investment policies. The report with the enclosed analysis and recommendations was prepared and presented to the government of Armenia for consideration in September 2019.

The United Nations Conference on Trade and Development (UNCTAD) is a permanent intergovernmental body established by the UN General Assembly in 1964.

The structure assists the developing states in integrating into global trade, world markets and economic relations by identifying the existing problems and preparing proposals on how to overcome them.

In October 2019, President Sarkissian was elected the President of the UNCTAD Panel of Eminent Persons. The Panel offers consulting on the perspectives for trade and trends for the next ten years, on the pivotal and urgent economic development challenges, offeres ideas and solutions to overcome them. The Panel comprises heads of state and government, reputable economists, and experts.