Business in Armenia

EENI- School of International Business

Subject: Doing Business in Armenia. Yerevan. Syllabus:

  1. Introduction to the Republic of Armenia (Europe)
  2. The Armenian Economy
  3. International Trade of Armenia
  4. Foreign Direct Investment (FDI) in Armenia
  5. The 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

The objectives of the subject “Foreign Trade and Doing Business in Armenia” are the following:

  1. To analyse the Armenian economy and foreign trade
  2. To evaluate the business opportunities in Armenia
  3. To explore Armenia's trade relations with the student's country
  4. To know Armenia's Free Trade Agreements
  5. To develop a business plan for the Armenian Market
The subject “Doing Business in Armenia” is studied...
  1. Doctorate: Europe
  2. Master (e-learning): International Business
  3. Courses: Eastern Europe, 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
  2. Duration: one week

Armenian Students Վարպետ միջազգային բիզնես

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

Description of the Subject: Foreign Trade and Doing 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.

The Armenian Economy.

  1. The Republic of Armenia ranks in 36th place in the degree of economic freedom (Heritage Foundation)
  2. The 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. The 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. The 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.

EU Eastern Partnership

  1. Commonwealth of Independent States (CIS) - Free-Trade Area (CISFTA)
  2. Eurasian Economic Union (EEU)
  3. The European Union:
    1. Armenia is a beneficiary of the Generalised System of Preferences
    2. EU Eastern Partnership
  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)



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