Armenia and the United Arab Emirates will sign a trade and investment liberalization agreement, the Armenian government confirmed today.
The aim is to liberalize economic ties and investment flows between the two nations, according to Sputnik Armenia.
The agreement envisions removing barriers to services and investment, improving economic efficiency, and creating favorable conditions for expanding mutually beneficial cooperation. It also seeks to strengthen bilateral economic relations and facilitate access to new markets for both parties. The inclusion of provisions on investment protection and promotion is expected to stimulate entrepreneurial initiatives.
The deal stems from ongoing partnership negotiations between the Eurasian Economic Union and the UAE. It will serve as an international legal instrument regulating trade in services and investment relations, making bilateral economic activity more open, competitive, and mutually rewarding.
Key components of the agreement include:
- Improving the business climate through new market opportunities and reciprocal advantages
- Promoting and protecting investments to encourage private sector activity
Under the proposed terms, the UAE plans to grant Armenia special access in sectors like IT and scientific consulting, equipment repair, mapping, and telecommunications. Legal, construction, accounting, and auditing services will also be streamlined.
In return, Armenia plans to offer the UAE incentives in agriculture, forestry, and hunting, as well as in scientific consulting, engineering, healthcare, education, environmental protection, and postal services.
