U.S. Signs Trade and Investment Framework Agreement with Armenia
The Office of the U.S. Trade Representative reports that on May 7 the U.S. and Armenia signed a bilateral trade and investment framework agreement establishing a council that will examine ways to strengthen the trade and investment relationship between the two countries.
According to a USTR press release, total two-way trade totaled $153 million in 2014. U.S. goods exports to Armenia totaled $56 million and included poultry, machinery, vehicles, and optic and medical equipment. U.S. goods imports from Armenia totaled $96 million and included aluminum, woven apparel, brandy, diamonds, and processed fruit and vegetables. Total U.S. foreign direct investment in Armenia and total Armenian FDI in the U.S. were each $1 million in 2013.