YEREVAN (Novosti Armenia), June 4–The Armenian-British Chamber of Commerce (ABCC), which opened in Yerevan on Thursday, aims at strengthening commercial links between the two countries, Hayk Harutyunyan, chairman of the chamber of commerce board, said.

“The idea of establishing the chamber occurred about a year ago. The initiative belonged to about ten companies,” Harutyunyan said during the opening ceremony.

According to him the chamber, established by 14 Armenian and British companies, will serve as a multifunctional business program.

“This is an attempt to promote Armenian-British economic and commercial relations, international investment programs in Armenia,” Harutyunyan said.

He mentioned that the opening of the chamber in the United Kingdom is expected during the next two years. Harutyunyan also said that Armenian-British trade is not so significant right now, but there are serious preconditions for its development.

“There are about ten companies with British capital in Armenia. The establishment of the Armenian-British Chamber of Commerce will allow British businessmen to become more familiar with Armenia and its investment opportunities,” Harutyunyan added.

Charles Lonsdale, the British Ambassador to Armenia, stressed the importance of this initiative.

“Armenia is not a first-priority aspect in UK foreign economic relations. However, there is significant potential for further enlargement of business relations,” the ambassador said.

Lonsdale also mentioned that it’s very important to make the Armenian economy familiar to British businessmen.

Translated from Russian by Yerevan Report