Newsfeed

In 2015 Beeline intends to enlarge its customer base in Armenia by expanding the spectrum of its services and enhancing the service quality and price affordability

ISO/IEC 27001:2013 Information Security Management System implemented by VivaCell-MTS

"Ameria" Has Launched a Project for the Development of Small-Scale Gardening in Armenia

ACBA-Credit Agricole Bank expanding regional network with new branch

Expert: Armenia and EU not likely to sign any document at Riga Summit

Iraqi Airways to make first Baghdad-Yerevan-Erbil flight

Yerevan, February 26. ArmInfo. Marianna Mkrtchyan.ason Katz says United States supports Armenia to disadvantage of its allies Azerbaijan and Georgia

Another parliamentarian leaves Prosperous Armenia Party Faction

Ayb School and VivaCell-MTS have summed up the results of their cooperation

PSRC: Armenia negotiating with Russia to maintain gas tariff

Armenian Parliament Speaker gives one more chance to Gagik Tsarukyan

On the eve of spring, Orange presents new good surprises for internet and voice customers

Arthur Ashughyan: Future of lapidary industry depends on how competitive and efficient it is

Political expert: One should not expect serious internal political processes on Mar 1

Political expert: US State Department's calls to set free Azeri raiders will receive no response

Prosperous Armenia to convoke extraordinary congress on Mar 5

Cavusoglu: Armenia has failed test of sincerity

Parliamentary majority turn down the opposition's draft statement on crisis in governance

Richard Giragossian: The success of the talks with Brussels much depends on reliability and ability of the Armenian government

Baku may change its mind at the last moment and attend Euronest PA session in Yerevan, Armenian MP says

Ivica Dacic sees deterioration of situation in Karabakh and slackening of peace negotiations

Traian Hristea says 2015 will see new level of Armenia-EU cooperation

Avaz Hasanov: OSCE MG, Russia, EU, or U.S. can impose no pressure upon Armenia and Azerbaijan in the matter of Karabakh

Nikol Pashinyan demands that NKR authorities should punish the policemen who beat Founding Parliament's members

Ex-Prime Minister: Amid statements on SME development, decision to reduce number of banks in Armenia is sheer mockery

Ameriabank wins four nominations of Best Exchange Members of 2014 awards

Central Bank forecasts slowdown in salary growth rates in Armenia

UN Secretary-General and OSCE Chairman-in-Office Discussed the Situation in Nagorno Karabakh

Hot debates over ANC's project "On crisis in government system" in Armenian Parliament

Beeline announces the change of payment days for account charges and blocking of numbers for postpaid mobile subscribers

ACBA-Credit Agricole Bank increases the number of its offices

Prosperous Armenia Party prepares for extraordinary congress in early March and promises to make unexpected decisions

Ecologists and Villagers are Discontent with the Akhtala Ore Mining Plant’s Plans on Building a New Tailing Dump

Central Bank forecasts 30% decline of personal transfers in 2015

U.S. Department again urges Armenia to free Azerbaijani raiders

Eurovision-2015: VaheTilbian from Ethiopia has becomethe third member of the band "Genealogy"

Russian border guards and Armenian law enforcers continue their search for missing Armenian officer

Areximbank-Gazprombank Group offers new AMD time deposit

Armenia's Energy Ministry: Consultant of project to build fourth Armenia-Georgia power transmission line will be selected in next three weeks

No decision adopted yet to strip Gagik Tsarukyan of his seat in parliament

Ankara disclaims reports on cancellation of Gallipoli commemorations

Energy Ministry of Armenia: Russia to supply 2 billion cu m of gas to Armenia in 2015

Georgian expert: Even biggest concerns of Moscow over Georgia-EU rapprochement will not make Tbilisi revise Association Agreement

Contract serviceman of 102nd Russian military base in Gyumri is missing

Views from Tbilisi: The Armenia-Georgia good-neighbored relations may well become a link between EU and EEU

Armenian Government suggests reducing profit tax 10-fold for large exporters

ANC suggests discussing Serzh Sargsyan's pressure on Prosperous Armenia Party in Parliament

Parliament of Armenia kills impeachment bill

Anelik Bank has the Best Calendar for 2015 according to an interbank contest

Armenian National Assembly rejects Zaruhi Postanjyan's bill

ANCA calls for increased US aid and trade with Armenia

  • Friday, January 18, 14:03

 The Armenian National Committee of America (ANCA) has called on members Congress to appropriate increased economic assistance for Armenia and to expand programs to promote U.S.-Armenia bilateral trade and investment.

Among the favorable findings referenced by the ANCA, in a letter sent this week to legislative offices calling for expanded trade promotion and increased assistance to Armenia, were the following:

- The World Bank, in its 2013 Doing Business report, ranked Armenia #32 worldwide in terms of overall ease of doing business, #11 for ease of starting a business, and #4 for ease of registering property.

- The Wall Street Journal/Heritage Foundation's 2013 Index of Economic Freedom rates Armenia #38 worldwide, and #17 among the 43 European states, ahead of Belgium, France, and Spain.

- The World Economic Forum's 2012 Global Enabling Trade Report ranks Armenia #13 worldwide for market access and #59 in terms of the overall extent to which it has developed institutions, policies, and services facilitating the free flow of goods over borders.

- Price Waterhouse Cooper, in its most recent Doing Business in Armenia guide, reported that, "Armenia encourages foreign trade and investment," and that, "[s]urveys suggest that Armenia is a relatively easy country in which to do business."

- The Millennium Challenge Corporation's 2013 scorecard reports that Armenia is rated in the 97th percentile in terms of both favorable trade policy and business start up, and in the 91st percentile with regard to regulatory quality.

- Freedom House, in its 2013 report on Freedom in the World, upgraded Armenia to a 5 rating for political rights.

In addition to these favorable indicators, Armenia has been a strong security partner for the United States, having sent troops to support US-led coalition efforts in Iraq, to assist NATO operations in Afghanistan, and to take part in international peacekeeping in Kosovo.

In terms of trade promotion, the ANCA - along with the American Chamber of Commerce in Armenia and major corporations, including Microsoft, FedEx, and NASDAQ - have called on the U.S.  government to respond favorably to the Armenian government's interest in negotiating a badly-needed U.S.-Armenia Trade and Investment Framework Agreement and a long-overdue Double Tax Treaty. The ANCA looks to the Obama Administration to honor the President's commitments to expand U.S.-Armenia trade and investment, and is calling upon Congress to support the growth of mutually beneficial economic bilateral relations.

The legislative memo noted that, "it is in this spirit, and upon the solid foundation and friendship of the past two decades, that we call upon you to support the appropriation of increased economic assistance for Armenia and the expansion of programs to promote mutually beneficial U.S-Armenia bilateral trade and investment (such as a badly-needed U.S.-Armenia Trade and Investment Framework greement and a long-overdue Double Tax Treaty)."

The level of US aid to Armenia, which hit a high of $174 million in Fiscal Year 2003, has been steadily declining over the past two decades, as a result of both calls by successive Administrations for cuts, and growing Congressional pressure for reductions in spending. The Obama Administration, which came into office with aid levels at more than $60 million, has, despite the President's campaign pledge to maintain assistance to Armenia, sought reductions in the Armenia aid program. The overall economic and military aid level for Armenia in the most recent appropriations cycle is less than $45 million. The ANCA is asking for at least $50 million in FY2014 aid to Armenia. The President's proposed FY14 budget will be released in the coming weeks.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields