YEREVAN (Combined Sources)—A project called Enterprise Development and Market Competitiveness, which is funded by the United States Agency for International Development (USAID) was launched Wednesday.
The five-year initiative seeks to “stimulate sustainable growth in employment and incomes in Armenia by promoting growth in high potential value chains, which have strong export potential,” reported ArmRadio.
USAID jointly with Pragma Corporation and Armenia’s Economy Ministry will implement the EDMC project aimed at creating favorable conditions for development of small and medium businesses in Armenia, enhancement of market competitiveness, promotion of innovations as well as boosting of labor force potential.
US Ambassador John Heffern, who was present at the inauguration of the initiative said, “Armenia and the U.S. have vast potential for deepening trade ties.”
“Hopefully this project will foster further development of bilateral relations,” the ambassador said, noting Armenia as an important partner of the U.S.
“Ambassador Heffern has a real opportunity to breath life into his admirable remarks by leading the charge for bilateral accords – such as a Trade and Investment Framework Agreement, a Double Tax Treaty, and eventually a Free Trade Agreement – that will deliver real, concrete results in terms of U.S.-Armenia trade and investment growth. The numbers don’t lie, and – sadly – they tell a story of failed leadership in terms of growing the U.S.-Armenia economic relationship,” said Aram Hamparian, Executive Director of the Armenian National Committee of America.