The Armenian economy is gradually recovering from the global financial crisis. With international donor assistance, the Armenian government has been implementing a program of reforms aimed at restructuring the banking and financial services sector, liberalizing trade, attracting foreign investment through improved tax and customs regimes, establishing a Western accounting system, and implementing a private property regime. However, being a landlocked country with a narrow export base, it remains vulnerable to deteriorations in the global commodity markets and the economic challenges in Russia.
Practical steps for potential exporters and investors below:
- Please visit the gov page on Armenia to get an overview of economic conditions and opportunities.
- Contact your local U.S. Export Assistance Center for advice and support on exporting to Armenia. To find the center near you please visit https://www.export.gov/locations.
- For U.S. small and medium-size companies, the Department of Commerce offers a “SME IP Advisory Program” available through the American Bar Association. For details and to register, visit here.
- Contact in-country business support organizations such as the Development Foundation of Armenia, Center for Strategic Initiatives and American Chamber of Commerce in Armenia (AmCham).
- Subscribe to our embassy Facebook page.
The Foreign Corrupt Practices Act (FCPA) is an important anti-corruption tool designed to discourage corrupt business practices in favor of free and fair markets. The FCPA prohibits promising, offering, giving or authorizing giving anything of value to a foreign government official where the purpose is to obtain or retain business. These prohibitions apply to U.S. persons, both individuals and companies, and companies that are listed on U.S. exchanges. The statute also requires companies publicly traded in the U.S. to keep accurate books and records and implement appropriate internal controls.
More information on the DOJ opinion procedure can be found here: http://www.justice.gov/criminal/fraud/fcpa/docs/frgncrpt.pdf (PDF, 25KB)
This webpage contains links to non-U.S. government sites. The U.S. Embassy in Yerevan is not responsible for the content and the privacy practices of the websites, does not endorse the organizations the websites belong to, and encourages you to examine each website and make your own decisions regarding the accuracy, reliability of material, and information found.
1992 Bilateral Investment Treaty signed by the United States and Armenia
Basic provisions regulating American investments are set by the Bilateral Investment Treaty (BIT) signed by the United States and Armenia in 1992 and in force since 1996, and by the 1994 Law on Foreign Investment. In addition to providing for national treatment and most-favored nation treatment, the BIT sets out guidelines for the settlement of disputes involving the governments of either party. As an international treaty, the BIT supersedes Armenian law, a point which Armenia’s constitution acknowledges and which holds in actual practice.
Bilateral Investment Treaty (BIT) signed by the United States and Armenia is available at http://www.state.gov/documents/organization/43477.pdf (PDF 147 KB)
Armenia’s Membership in International Organizations
Armenia is a member of the following major international organizations: IMF, World Bank/IDA, IFC, WTO, OSCE, Council of Europe, UN/UNCTAD/UNESCO, MIGA, ILO, WHO, WIPO, INTERPOL, European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), IAEA, World Tourism Organization, World Customs Organization, International Telecommunications Union and the Organization of the Black Sea Economic Cooperation (BSEC). Armenia became the 145th member of the WTO in February 2003.