Armenia second major business partner for Germany – ambassador

Armenia is Germany’s second major business partner after Russia and China, Ambassador Bernhard Matthias Kiesler said today, highlighting the increased trade turnover between the two countries.

At a news conference in Yerevan, the diplomat noted that his country’s financial allocations amounted to € 54.4 million in 2016 alone. Additionally, he said, Germany spent €22 million for regional projects. 

After intergovernmental negotiations on Monday, a bilateral protocol was signed at the Ministry of Finance. 

“2016 was really a unique year in the development of the Armenian-German relations,” he said, citing the mutual intensive visits (including Armenian President Serzh Sargsyan’s trip to Berlin and German Foreign Minister Frank-Walter Steinmeier’s trip to Yerevan in late June) and Germany’s presidency of the Organization for Security and Cooperation in Europe (OSCE).  

Asked why then major German companies’ presence to Armenia is not visible, the ambassador replied: 

German businessmen are interested in counties with large markets and political stability to make investments. Regrettably, German medial headlines about Armenia and the region did not speak of regional stability. Their topic was the Nagorno-Karabakh conflict. Such problems are an obstacle to small and medium businessmen in terms of economic interest.

German businessmen point out ample opportunities not only for trade, but also for production in Armenia. Armenia’s membership in the Eurasian Economic Union (EEU) is one more factor making Armenia attractive to German businessmen.