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Official News

Friday, 28 April 2017

Bilateral Economic Ties Development Agenda Discussed

Prime Minister Karen Karapetyan received a delegation led by Lebanese State Minister for Business Planning Michael Faraon.

Welcoming the guests, the Prime Minister expressed hope that Mr Faraon’s visit would give new impetus to historically deep-rooted bilateral relations, the development of business ties and trade turnover.

Noting that there are 211 companies with Lebanese capital operational in Armenia, Karen Karapetyan expressed confidence that there is great potential for the development of economic cooperation: Armenia could be of interest to Lebanese businesses in terms of getting broader access to Eurasian Economic Union and Iranian markets. In this respect, the Premier pointed to the benefits and opportunities offered by the EEU market and the free economic zone to be set up on the Armenian-Iranian border. Karen Karapetyan said Armenia and Lebanon might cooperate in several areas, including healthcare, pharmaceuticals, mining industry, renewable energy, infrastructures and so on.

The Prime Minister highlighted the activities of the Armenian-Lebanese intergovernmental commission on bilateral cooperation, which could help further strengthen and diversify interaction. Karen Karapetyan asked to convey warm greetings to Lebanese Prime Minister Saad Hariri.

Stressing the importance of economic exchanges, the Lebanese State Minister said to be highly impressed by the reforms aimed at providing favorable conditions for foreign investors and improving the business environment in the country. Michael Faraon assured that he would convey a relevant message to the Lebanese business circles as the latter seem to be keen to do business in Armenia and get through to the EEU and Iranian markets via Armenia.

Talks were said underway with the Armenian partners with a focus on the implementation of two investment programs with Lebanese capital in the healthcare sector and the establishment of a household items manufacturing plant in Armenia.

Prime Minister Karapetyan welcomed the idea, noting that his government is implementing bold and logical health sector reforms. The Premier said the Government is interested in the commitment of both Lebanese capital and business culture.

October 2021