Ambassador A. Martirosyan Participated in Knowledge Symposium - 2015

29 October, 2015

On October 29, Jagan Institute of Management Studies (JIMS) in collaboration with the Federation of Indian Export Organizations (FIEO) organized the annual conference «Knowledge Symposium - 2015». The Guest of Honour, Ambassador of Armenia to India Armen Martirosyan delivered a speech.

The conference was attended by representatives of number of export companies, university professors, students and experts.

Ambassador A. Martirosyan's speech is presented below:

"Firstly, I would like to thank the organizers for providing the platform to address this distinguished forum. I am convinced that time is of the essence for all participants, so I will get down to business right away.

As of now, with bilateral trade at approximately 70 mln USD, Armenia is by no means a top destination for Indian exporters. Nor is the structure of Indian exports to Armenia particularly impressive, consisting almost exclusively of buffalo meat. Meanwhile, Chinese exports to Armenia are 5 times higher than those of India and range from food and clothing to machinery and chemicals. This contrast is far more striking when considering that existing and newly built transport infrastructure between India and Armenia is far more conducive to trade than that between China and Armenia.

While Armenia`s small market of 3 mln people is admittedly not attractive enough for Indian big business, Armenia's recent membership in the Eurasian Economic Union, an economic amalgamation consisting of Russia, Kazakhstan, Belarus, and Kirgizstan has completely changed the situation by creating a single market of 170 mln people.

Among members of Eurasian Union, Armenia has the highest rankings in the Ease of Doing Business and Democracy Ranking Index, and the lowest in the Corruption Perceptions Index. It also has preferential trade regimes with the EU and the US, thus making it a potential entry port for Indian products not only to the Eurasian markets but also beyond.

Existing infrastructure and infrastructure that is currently under construction enables the effective transport of goods from India to Armenia and beyond using Iran in the south and Georgia in the north as transit countries. There are no political obstacles involved in this dynamic, as both Armenia and India enjoy good relations with Iran and Georgia, thus allowing for the exploration and effective application of multimodal transportation schemes.

The Union is currently expanding its trade activities beyond its borders, as exemplified by the signing of a Free Trade Agreement with Vietnam on the 29th of May, which undoubtedly opens new horizons for mutually beneficial trade between the block and Vietnam.

As you know, during this summer’s St. Petersburg International Economic Forum, the Indian Commerce and Industry Ministry officially commenced discussions on the India-EAU FTA. The government of India has established an interagency commission to study the optimal strategy of cooperation with the Union, and my country is eager and prepared to play an instrumental role in this promising endeavour."

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