On August 30, the Deputy Minister of Economic Development and Investments of RA Hovhannes Azizyan received the delegation headed by the Vice Chairperson of the Standing Committee of Qingdao Municipal People's Congress of the People's Republic of China (PRC) Liu Shengzhen. The delegation was composed of state officials, heads and representatives of several outstanding Chinese companies.

The meeting was attended by the Heads of Departments of the Ministry of Economic Development and Investments of RA, as well as by the representatives of Chamber of Commerce and Industry of RA and representatives of the Chamber of Commerce and Industry of RA in the People's Republic of China.

Greeting the guests, Hovhannes Azizyan expressed satisfaction with the visit of the delegation of Qingdao to Armenia and expressed hope that it will be interesting and effective in terms of strengthening Armenian-Chinese business ties and developing economic cooperation, as there are good prerequisites and desire of both sides to boost it.

“Although we have a 35% increase in trade turnover with China, we are not satisfied with these volumes and we would like to see Chinese investments in various sectors of Armenia's economy, as well as active participation of Chinese companies in infrastructure development projects of our country,” said the Deputy Minister, adding that there is a good opportunity for exporting Armenian agricultural products to China.”

During the meeting the sides represented their interests and expectations. In particular, the possibilities of cooperation in the spheres of domestic appliances, construction materials, pharmaceutics and road construction were discussed. . An arrangement was reached with representatives of the Chinese “Hisense” company to exchange the necessary information to clarify the possibilities of further cooperation with the Armenian side.

The Vice Chairperson of the Standing Committee of Qingdao Municipal People's Congress of the People's Republic of China (PRC) Liu Shengzhen expressed gratitude for the reception and mentioned that the businessmen of Qingdao city are interested in launching activity in Armenia. For the development of economic cooperation between the two countries, she stressed the importance of “One Belt, One Road” program implementation.

At the end of the meeting, an arrangement was reached to transfer information to the Chinese side about the attractiveness of Armenia's economy and investment programs.