U.S. Optimistic about Elimination of Double Taxation in Armenia
Updated: Jul 13
U.S. Deputy Assistant Secretary on European and Eurasian Affairs Bridget Brink meeting with Foreign Minister of Armenia Edward Nalbandian and staff in Yerevan, Armenia on November 18, 2015 (MFA).
By Danielle Saroyan
Armenian Agenda Associate Editor
On November 18, Foreign Minister of Armenia Edward Nalbandian met with U.S. Deputy Assistant Secretary on European and Eurasian Affairs Bridget Brink, where they discussed an agreement on elimination of double taxation in Armenia.
“I’m very optimistic about it. I think that we can take many steps to support Armenia,” Secretary Brink said in Yerevan, reports Banks.am. “We will try to use all the tools which will help deepen and strengthen our commercial ties with Armenia.”
The first session of the Armenia-U.S. Trade and Investments Council took place in Yerevan on November 17. Armenia and the U.S. signed Trade and Investments Framework Agreement (TIFA) on May 7, stating their intention to create conditions for investments and trade turnover between the states, ultimately encouraging trade.
According to a statement from the Armenian Ministry of Foreign Affairs, “the [Armenian] Foreign Minister commended the high level of Armenia-US friendly partnership, stressing that bilateral relations have experienced a serious progress over the recent years with the exertion of joint efforts, which creates good opportunities for further strengthening and enhancing of the partnership.”
As of now, over 400 companies with American capital operate in Armenia. From this year on, Contour Global will start operating in Armenia which will be the largest company with American investments in Armenia’s history.
“I am proud that the United States is among the largest foreign direct investors in Armenia and am looking forward to identifying ways to further increase investor confidence following the meetings of the U.S.-Armenia Joint Economic Task Force (USATF) and Armenia-U.S. Council on Trade and Investment (TIFA) meetings in Yerevan this week,” Brink said. “This series of high-level meetings will help us build a more beneficial trade partnership.”
Other topics discussed in their meeting include thoughts on a peaceful settlement of Nagorno Karabakh, international and regional ways to fight against terror, and Armenia’s contribution to the global security and participation in peacekeeping operations around the world.