Yerevan/Mediamax/. Armenian-German business forum, organized by Armenian Development Agency (ADA), launched in Yerevan today.

Mediamax reports that Head of CIS Countries Interrelation Department of German Ministry of Economy and Technology Andreas Neumann stated in his welcoming speech that Armenia needs reforms and economy diversification, as well as integration into global markets.

Andreas Neumann noted that Germany is ready to use its resources and potential in Armenia, however corresponding legal guarantees are necessity for protecting Germany capital in the republic. According to him, as of the data for 2009, Germany occupies the 1st place as to export and 4th place as to import from Armenia, “and we know that your country takes interest in deepening business relations with Germany”.

Armenian Minister of Economy Nerses Yeritsyan noted that Armenian-German business cooperation is of extreme importance for Armenian economy’s development. According to him, in case of interest, the German capital can be sent to development of infrastructures, technologies, etc.

Armenian Economy Minister expressed hope that two countries will continue consolidating their trade and economic ties and developing new business contacts.

According to the data for 2009, the trade turnover between Armenia and Germany made USD 291mln. The main goods, exported from Armenia, are iron, molybdenum, chemical fibers, precious and semiprecious metals, etc.