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International Relations

HOME > International Relations


Armenia participates in CIFTIS for first time amid rising China-Armenia trade

May 31, 2018


Abstract : Armenia has participated in the on-going China Beijing International Fair for Trade in Services (CIFTIS) in Beijing for the first time.

京交会

BEIJING, May 31 (Xinhua) -- Armenia has participated in the on-going China Beijing International Fair for Trade in Services (CIFTIS) in Beijing for the first time.

Hrant Abajyan, commercial representative of the Embassy of Armenia in China, said that the economic and trade exchanges between China and Armenia have become increasingly frequent.

He added that in 2017, the trade volume between the two countries reached 600 million U.S. dollars, an increase of 33 percent from the previous year. The tourism industry is developing rapidly. The number of Chinese tourists who traveled to Armenia last year increased by about 80 percent year on year.

It is reported that the Armenian economy showed steady growth in recent years, with a GDP growth of 7.5 percent in 2017. Many Chinese enterprises have actively participated in its development. For example, Huawei and ZTE are actively involved in the IT field. CITIC Group and the local companies have jointly built copper smelters. Fountain Medical Development Ltd. (FMD) has focused on technological innovation in the pharmaceutical industry in Armenia.

In addition, the Chinese companies have been currently participating in the construction of the “North–South Road Corridor” in Armenia. After the project is completed, it will become a bridge between Asia and Europe for trade and passenger transport, making Armenia an important supply corridor on the Belt and Road routes, said Hrant Abajyan. (Contributed by Zhang Chao, Wang Xiaoxuan, edited by Hu Pingchao, hupingchao@xinhua.org)


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