Suoud Salem Al Agroobi, FCA Head of International Relations Department and Karen Bekaryan, SRC Director of Customs Procedures signed the agreement in Yerevan in the presence of Gagik Khachatryan, SRC Director General, Artur Afrikyan, SRC Senior Deputy Director General and Artur Hovsepyan, Head of International Relations Department.
The agreement indicates that both countries are keen to boost the economic relations in light of the increasing mutual trade and promote cooperation between businesses in both countries.
Khalid Al Bustani, FCA Acting Director General said that agreement removes trade barriers between both countries by exchanging knowledge and expertise on consignments, customs policies and training in customs procedures, inspection and examination.
“It is a main tool to execute the FCA plan and strategic goals of protection of social security, facilitation of trade and consolidation of cooperation, exchanging knowledge with the UAE trade partners across the world,” he added.
For his part Artur Afrikyan, SRC Senior Deputy Director General said: “It is one of the most important agreements for Armenia customs given the increasing size of mutual trade and is expected to further facilitate the process of removing the customs barriers between both countries”.
The agreement with Armenia will allow exchange of expertise, promote the economic cooperation and increase the mutual trade movement as well as protect the society of improper trade practices by exchanging information about customs consignments between both countries, said Suoud Salem Al Agroobi, FCA Head of International Relations Department.
Both the UAE and Armenia have close historic relations with mutual trade as a major player in these relations. This requires more close cooperation in trade and concerted efforts to face challenges to the mutual trade movement. Thus the bilateral agreement of customs technical cooperation would be significant as an important tool for facilitation of mutual trade.
The UAE, he said, is keen to promote the trade cooperation with Armenia as one of its trade partners. The mutual trade has recently seen a tangible development as it hit AED 1.1 billion from 2009 until the late half of 2012, he said.
Armenia is one of the important markets for the UAE re-exports which hit AED 1.08 billion during the same period. The exports hit about AED 41.9 million while imports hit AED 27.4 million.
Paints, surface watercolors used for leather polishing, ready-made dryers, artist colors, education or signage, printing ink, fragrance oils, perfumes and hair, mouth and teeth care preparations were the top UAE goods re-exported to Armenia in that period, he said.
The customs technical cooperation agreements, he said, reduce the customs violations which act against the economic, trade, financial, social and cultural interests of the states. Such agreements aim to activate actions against such violations through close cooperation.