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Prague: Trade with Armenia could be much higher --confederation

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  • Prague: Trade with Armenia could be much higher --confederation

    CTK Business News Wire, Czech Rep
    January 31, 2014 Friday 6:39 PM (Central European Time)

    Trade with Armenia could be much higher --confederation

    Prague Jan 31 (CTK)


    Czech trade with Armenia is far from filling its potential,
    Confederation of Industry president Jaroslav Hanak said at a
    Czech-Armenian business forum held on the ocassion of a visit of
    Armenian President Serzh Sargsyan.

    Some 100 entrepreneurs from both countries took part in the event.

    "Trade with Armenia is not at the level we would imagine," Hanak said,
    adding that trade turnover between the two countries was worth EUR32m
    in 2012 and only some EUR20.3m last year.

    Czech President Milos Zeman also attended the forum. He recommended to
    Armenian companies Czech cars, in particular Skoda cars, and
    traditional Czech beer. Sargsyan talked about mineral resources of his
    country.

    "Czech companies are examining opportunities on the Armenian market
    above all in energy supplies, municipal waste management, engineering
    industry, information technologies, health care equipment and
    prospecting, and are also looking at business opportunities in other
    segments," Industry and Trade Minister Jan Mladek said.

    Seven memoranda were signed at the business forum, which is good news
    that could intensify mutual cooperation, Hanak noted.

    The Export Guarantee and Insurance Company (EGAP) signed a cooperation
    agreement with new Armenian credit insurer EIAA in the presence of
    both presidents.

    "The agreement will allow Czech and Armenian companies to cooperate on
    projects in third countries and is, of course, very important also for
    further diversification of Czech exports," said EGAP's CEO Jan
    Prochazka.

    The agreements also concern, for example, cooperation between the
    Nature protection agency (AOPK) and Armenia's Mineral Resources
    Agency, as well as between some regions and national parks in both
    countries.

    fs,kou/er

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