In the extraordinary session of July 13, the National Assembly debated the draft law on ratifying the Agreement concluded in the form of exchange of bids on the establishment of local offices of the German Agency for International Cooperation (GIZ) LLC and the Credit Institute for Reconstruction (KFW).
The RA Deputy Minister of Economy Rafael Gevorgyan noted that the above-mentioned companies have been operating in Armenia since the beginning of the 2000s, but until now they did not have legal status, they operated under embassies. Certain technical issues have arisen in connection with the activities of these companies: import of property and equipment, payment of taxes, etc. The Deputy Minister clarified that the process should have been regulated by a bilateral agreement years ago, but it has been delayed for some reasons.
The Deputy Minister presented details on the development of effective Armenian-German cooperation, mentioning that many new initiatives are being debated. Since 1995, there is a rich legal contract base, Germany has made investments in Armenia equivalent to about two trillion AMD. At the moment, the active portfolio of KFW Bank in Armenia is about 650 million EUR. GIZ mainly carries out activities within the framework of grant activities, very important work has been done for the development of the private sector over the years and now it is actively supporting our country.
Regarding the questions of the deputies Arsen Torosyan, Artsvik Minasyan, Tsovinar Vardanyan and Sergey Bagratyan, the Deputy Minister provided clarifications, stating that Germany is Armenia’s first partner in the EU framework in terms of trade turnover, more than two trillion investments were made in our country during the previous years. “I can’t say why these agreements were not signed, but it is a fact that it hindered the development of our relations,” Rafael Gevorgyan said and added that the agreement does not establish new privileges, the existing relations are regulated.
Read also
In response to the MPs’ questions about delaying or obstructing the process of adopting the agreement, the Deputy Minister of Economy said that the process started 12 years ago, and since then the German Government has repeatedly announced that these agreements are important to them. Edgar Hakobyan spoke about the endorsement of the Standing Committee on Financial-Credit and Budgetary Affairs.
The National Assembly adopted the draft law.
National Assembly of the Republic of Armenia