U.S. Optimistic about Elimination of Double Taxation in Armenia

By Danielle Saroyan

Armenian Agenda Associate Editor

On November
18, Foreign Minister of Armenia Edward Nalbandian met with U.S. Deputy
Assistant Secretary on European and Eurasian Affairs Bridget Brink, where they
discussed an agreement on elimination of double taxation in Armenia.  

“I’m very
optimistic about it. I think that we can take many steps to support Armenia,” Secretary
Brink said in Yerevan, reports Banks.am. “We will try to use all the tools
which will help deepen and strengthen our commercial ties with Armenia.”

The first
session of the Armenia-U.S. Trade and Investments Council took place in Yerevan
on November 17. Armenia and the U.S. signed Trade and Investments Framework
Agreement (TIFA) on May 7, stating their intention to create conditions for
investments and trade turnover between the states, ultimately encouraging
trade.

According to
a statement from the Armenian Ministry of Foreign Affairs, “the [Armenian]
Foreign Minister commended the high level of Armenia-US friendly partnership,
stressing that bilateral relations have experienced a serious progress over the
recent years with the exertion of joint efforts, which creates good
opportunities for further strengthening and enhancing of the partnership.”

As of now,
over 400 companies with American capital operate in Armenia. From this year on,
Contour Global will start operating in Armenia which will be the largest
company with American investments in Armenia’s history.

“I am proud
that the United States is among the largest foreign direct investors in Armenia
and am looking forward to identifying ways to further increase investor
confidence following the meetings of the U.S.-Armenia Joint Economic Task Force
(USATF) and Armenia-U.S. Council on Trade and Investment (TIFA) meetings in
Yerevan this week,” Brink said. “This series of high-level meetings will help
us build a more beneficial trade partnership.” 

Other topics
discussed in their meeting include thoughts on a peaceful settlement of Nagorno
Karabakh, international and regional ways to fight against terror, and Armenia’s
contribution to the global security and participation in peacekeeping
operations around the world.

Photo
Caption 1: U.S. Deputy Assistant Secretary on European and Eurasian Affairs
Bridget Brink meeting with Foreign Minister of Armenia Edward Nalbandian and
staff in Yerevan, Armenia on November 18, 2015 (MFA).

About Armenian Assembly of America

Established in 1972, the Armenian Assembly of America is the largest Washington-based nationwide organization promoting public understanding and awareness of Armenian issues. The Assembly is a non-partisan, 501(c)(3) tax-exempt membership organization.
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