Business in Armenia

EENI- School of International Business

Subject Subject (Course): International Trade and Doing Business in Armenia. Yerevan. Syllabus:

  1. Introduction to the Republic of Armenia.
  2. Armenian Economy.
  3. International Trade of Armenia.
  4. Foreign Direct Investment (FDI) in Armenia.
  5. Economic Profile of the Armenian regions (Marzes).
  6. Doing Business in Yerevan
  7. Business Opportunities in Armenia.
  8. The European Union-Armenia trade relations.
  9. Access to the Armenian Market
  10. Business Plan for Armenia

Objectives of the subject “Foreign Trade and Doing Business in Armenia”:

  1. To analyse the Armenian economy and foreign trade
  2. To evaluate business opportunities in Armenia
  3. To explore Armenia's trade relations with the student's country
  4. To know Armenia's Free Trade Agreements (FTAs)
  5. To develop a business plan for the Armenian Market


Subject “Doing Business in Armenia” is studied...
  1. Masters: International Business, Europe
  2. Diploma (Distance learning): Central Eurasia

Course learning materials in English or Spanish Armenia

  1. Credits of the subject “Foreign Trade and Doing Business in Armenia”: 1 ECTS Credits / 0.5 AC Credits
  2. Duration: one week

Armenian Students Վարպետ միջազգային բիզնես

Sample of the subject - Foreign Trade and Doing Business in Armenia:
Foreign Trade and Doing Business in Armenia

Description Subject Description: Foreign Trade and Business in Armenia:

The Republic of Armenia.

Armenia is situated in the Southern of the Caucasus at the crossroads of Europe and Central Asia.

  1. Yerevan is the capital of the Republic of Armenia.
  2. Neighbouring countries of Armenia: Georgia, Azerbaijan, Iran, Nakhijevan (Azerbaijan), and Turkey.
  3. The population of Armenia is 3.2 million of people (annual growth rate of 1.4 %).
  4. Area: 29,743 square kilometres
  5. Ethnically, Armenia is a homogeneous nation with 96% of Armenians.
  6. Armenian is the official language.
  7. Russian is the second language.
  8. The main religion in Armenia is Orthodoxy Christianity (Armenian Apostolic Church)
  9. Independence: 1991 (Soviet Union)

Armenia belongs to the Economic Area of the Orthodox Civilisation.

Armenian Economy.

  1. The Republic of Armenia ranks in 36th place in the degree of economic freedom (Heritage Foundation).
  2. Trade Relations between Armenia and the European Union, including foreign trade and economic cooperation, are regulated by the Partnership and Cooperation Agreement (European Neighbourhood Policy - Black Sea Synergy).
  3. The main trends of industry are the manufacture of food products (alcoholic beverages and chemical and metallurgy industry).
  4. Agriculture is principally based on animal husbandry and plant growing.
  5. Foreign direct investment and international trade policies of the Republic of Armenia are considered to be the most open in the Commonwealth of Independent States (CIS).
  6. Foreign companies are encouraged to invest and are entitled by law to the same treatment as local enterprises.
  7. The Republic of Armenia is exploring the chance of improving its economic relations with Iran.
  8. Armenian Development Agency was created in 1998 by the Government of the Republic of Armenia to make easy foreign direct investments and promote exports.

Trade Agreements and Preferential Access of Armenia

The Republic of Armenia, Albania, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, the Russian Federation, Serbia, Turkey, and Ukraine, are members of Organisation of the Organisation of the Black Sea Economic Cooperation. Armenia is also a member of the Commonwealth of Independent States (CIS).

The Republic of Armenia has free trade regimes with Belarus, Georgia, Moldova, Kazakhstan, the Russian Federation, Ukraine, Uzbekistan, Tajikistan, and the Kyrgyz Republic.

Armenia has Most-favoured-Nation Trade Regime with Argentina, Bulgaria, Canada, the People's Republic of China, Cyprus, the European Union (EU), Iran, India, Hungary, Lebanon, Poland, Romania, Syria, Switzerland, Vietnam, and the United States.

  1. Armenia is a beneficiary of the Generalised System of Preferences of the European Union (EU).
  2. Commonwealth of Independent States (CIS) - Free Trade Area (CISFTA)
  3. Eurasian Economic Union (EEU)
  4. Black Sea Economic Cooperation (BSEC)
  5. Black Sea Synergy
  6. Free Trade Agreements (FTA) with Georgia, Russia, Kyrgyzstan, Moldova, Ukraine, Iran, Turkmenistan, Tajikistan, and Kazakhstan.
  7. Eurasian Economic Community (EurAsEC) (Observer)
  8. European Union-South Caucasus

Doing Business in Armenia

Armenia is a member of:

  1. Organisation for Security and Cooperation in Europe (OSCE)
  2. Asian Development Bank (ADB)
  3. Economic Social Commission Asia-Pacific (ESCAP)
  4. Economic Commission for Europe (UNECE)
  5. Organisation for Security and Cooperation in Europe
  6. European Investment Bank

Samples - Business in Armenia

Eurasian Economic Union

Community of Independent States CIS

Armenia-Kazakhstan Free Trade Agreement

Eurasian Economic Community (EurAsEC)

Black Sea Economic Cooperation (BSEC)

U-EENI University