Armenia-Cuba economic ties

Armenia-Cuba economic ties

One of the key directions of the strategy of the Chamber of Commerce and Industry of Republic of Armenia is the establishment and expansion of foreign economic relations as a possible precondition for export promotion. The video conference of the Presidents of the Chambers of Commerce and Industry of Armenia and Cuba on September 10, which was attended by representatives of the diplomatic and business spheres, was a step forward, especially in terms of establishing new ties.

Welcoming the start of the cooperation between the two chambers, the President of the Chamber of Commerce and Industry of the Republic of Armenia Martin Sargsyan welcoming the beginning of the event.

The current volumes of trade turnover are insufficient, as there are directions and opportunities for perspective cooperation.

Let me mention one fact that in 2020 according to customs statistics, the trade turnover amounted to 41.7 thousand dollars, with no exports from Armenia to Cuba. From such statistics we can conclude that the Armenian market is more open, and Cuban products are more competitive in our country”. Mr. Sargsyan thanked the Ambassador Extraordinary and Plenipotentiary of the Republic of Cuba to Armenia Emilio Pevida Pupo (residence in Kazakhstan, Nursultan) for supporting this initial step.

The President of the Chamber of Commerce and Industry of the Republic of Cuba Antonio Carricarte expressed readiness to launch a mutually beneficial partnership.

Martin Sargsyan presented to his Cuban counterparts the customs advantages of transit cargo transportation from Armenia to the countries of the Eurasian Economic Union – the opportunities for Cuban businessmen to enter a large market – I consider it possible to establish joint ventures, especially in the field of agricultural processing, in which Armenian and Cuban raw materials can be used as a product of Armenian origin, to export to third countries on preferential terms ․․․

Cuban tourists may be interested in health, sports and ethnic tourism, and in terms of investment, the creation and development of infrastructure in the sector”. The keynote speaker assured that mutually beneficial cooperation can be developed in the field of information technologies, which has registered a stable, progressive growth in Armenia in recent years. Armenian high-tech companies are competitive in the international market, and our Chamber is ready to act as a bridge in the introduction of effective management systems in Cuban companies, involving representatives of the technology community”. At the same time, Mr. Martin Sargsyan assured that there would be no disputable facts in the cooperation, as the arbitral tribunal resolving economic disputes operates in the RA CCI system. The business participants of the videoconference presented their interests and opportunities, made proposals for joint programs.

At the end, the Presidents of the Chambers of Commerce and Industry of the two countries signed a memorandum of cooperation as a starting point for cooperation between the Chambers of Commerce of Armenia and Cuba.

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