YEREVAN, APRIL 27, ARMENPRESS. At the invitation of Armenia’s Minister of Economic Development and Investments Suren Karayan, the delegation of Lebanese State Minister for Planning Affairs Michel Pharaon arrived in Armenia, the Ministry told Armenpress.

On April 27 the two Ministers signed a memorandum of cooperation which will contribute to further expansding the bilateral economic cooperation, increasing the trade turnover, intensifying the business ties, strengthening and developing mutually beneficial partnership in fields of interest.

Minister Karayan thanked Michel Pharaon for the visit and said: “We put a beginning of a new cooperation which will further strengthen the relations between our two friendly states”.

The guests also were introduced on Armenia’s investment attractiveness, reforms on business environment, Armenia’s positions in various economic rankings, investment programs platform, tourism potential, agricultural and healthcare programs. They were mainly interested in the opportunities to carry out an activity in the Syunik Free Economic Zone.

In his speech Michel Pharaon said Armenia really has an investment attractiveness, stating: “Mrs. Minister, I invite your and tour team to Lebanon and propose to hold a joint investment forum aimed at presenting Armenia’s investment potential to the Lebanese businessmen and investors, as well as establishing business ties. This can be another perfect opportunity for the development of economic ties between our countries. What you presented today will be very interesting to the Lebanese investors. Armenia installed mechanisms aimed at facilitating the private investments”. At the end of the meeting the Lebanese Minister thanked for the productive discussion.