Doing Business in Armenia

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

1. To analyze the Armenian Economy and Global Trade;
2. To know the business opportunities in Armenia;
3. To explore the Armenian trade relations with the country of the student;
4. To know the Armenian Trade Agreements;
5. To develop a business plan for the Armenian Market.

The Subject “Foreign Trade and Business in Armenia” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Doctorate: European Business, World Trade.

Masters: International Business, Foreign Trade.

Learning materials in or Armenia Arménia Armenie.

1. Credits of the subject “Foreign Trade and Business in Armenia”: 1 ;
2. Duration: one week.

1. North-South Corridor (India-Russia);
2. Corridor Europe-Caucasus-Asia (TRACECA);
3. Access to the Afghanistan-Turkey Corridor (Lapis Lazuli).

Preferential Access and Free Trade Agreements of Armenia

1. Armenia and the Orthodox Economic Area;
2. Commonwealth of Independent States (CIS) - Free-Trade Area (CISFTA);
3. Eurasian Economic Union (EAEU);
4. European Union:
   1. Armenia is a beneficiary of the Generalized System of Preferences (GSP);
   2. EU Eastern Partnership;
   3. European Neighborhood Policy;
   4. EU-South Caucasus;
   5. Black Sea Synergy.
5. Black Sea Economic Cooperation (BSEC);
6. Armenia-Turkmenistan Free Trade Agreement;
7. Armenia-Moldova Free Trade Agreement;
8. Armenia-Kazakhstan Free Trade Agreement;
9. Armenia-Ukraine Free Trade Agreement;
10. Kyrgyzstan-Armenia Free Trade Agreement;
11. Georgia-Armenia Free Trade Agreement;
12. Eurasian Economic Union (EAEU)-Vietnam Free Trade Agreement;
13. Russia-Armenia Free Trade Agreement;
14. Iran-Armenia Free Trade Agreement;
15. Tajikistan-Armenia Free Trade Agreement;
16. Shanghai Cooperation Organization (SCO) (Dialogue Partner).

Armenia was an observer country at the Eurasian Economic Community (EurAsEC).

1. WTO
   1. Agreement on Trade in Services (GATS);
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Revised Kyoto Convention.
3. Convention concerning International Carriage by Rail (COTIF);
4. International Bureau of Containers and Intermodal Transport (BIC);
5. Chicago Convention (ICAO);
6. International Maritime Organization (IMO)
   1. Istanbul Convention - not a member.
7. Customs Convention on Containers;
8. UN Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea (Rotterdam Rules);
9. Convention Harmonization of Frontier Controls of Goods (UNECE);
10. International Road Transport Union (IRU)
    1. TIR Convention;
    2. Guidelines on Safe Load Securing for Road Transport.
11. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT).

Euro-Asian Trade and Economic Organizations:

1. OSCE;
2. Asian Development Bank (ADB);
3. ESCAP;
4. UNECE;
5. European Investment Bank;
6. Arab League (LAS) - Observer State.

Global Economic Organizations and Conventions of Armenia

1. UN
   1. ITC;
   2. UNCITRAL;
   3. World Intellectual Property Organization (WIPO);
   4. Conference on Trade and Development (UNCTAD) - Not-member.
2. WB;
3. IMF.

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

1. Yerevan is the capital of the Republic of Armenia;
2. The neighboring countries of Armenia are Georgia, Azerbaijan, Iran, Nakhijevan (Azerbaijan), and Turkey;
3. The population of Armenia is 3.2 million people (annual growth rate of 1.4%);
4. Armenian area: 29,743 square kilometers;
5. Ethnically, Armenia is a homogeneous nation with 96% of Armenians;
6. Armenian is the official language
   1. Russian is the second language.
7. Independence of Armenia: 1991 (Soviet Union).

Main religion in Armenia: Orthodoxy Christianity (Armenian Apostolic Church).

Armenia belongs to the Orthodox Economic Area.

Armenian Economy.

1. The Republic of Armenia ranks in 36th place in economic freedom (Heritage Foundation);
2. Trade Relations between Armenia and the EU, including the foreign trade and economic cooperation, are regulated by the Partnership and Cooperation Agreement (European Neighborhood Policy - Black Sea Synergy);
3. Main production: food products (alcoholic beverages, chemical and metallurgy industry);
4. Agriculture is principally based on the 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 in Armenia are encouraged to invest and are entitled by law to the same treatment as local enterprises;
7. The Republic of Armenia is exploring its economic relations with Iran;
8. The Armenian Development Agency was created in 1998 by the Government of the Republic of Armenia to facilitate the foreign direct investments and promote the exports.

Global Trade and Business in Armenia:

Trade Agreements and Preferential Access of Armenia

The Republic of Armenia, Albania, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey, and Ukraine, are members of the Organization 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, Russia, Ukraine, Uzbekistan, Tajikistan, and the Kyrgyz Republic.

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

(c) EENI Global Business School (1995-2023)
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