Armenia

U.S. Government assistance to Armenia supports democratic, economic, and social reforms, as well as efforts to promote regional peace and prosperity.

The U.S. and Armenia have a number of agreements affecting trade and investment between the two countries, including a Trade and Investment Framework Agreement, an Agreement on Trade Relations, an Investment Incentive Agreement, and a Bilateral Investment Treaty. The two governments periodically convene the U.S.-Armenia Joint Economic Task Force to discuss mutual areas of cooperation. Armenia's law on foreign investment governs all direct investments in Armenia, including those from the U.S. The two countries have signed a Memorandum of Understanding on unconventional and conventional energy resources, which aims to enhance cooperation between U.S. and Armenian experts to assess Armenia’s potential energy resources, including shale gas. U.S. investment in Armenia has included energy, information technology, hotels, carpet and furniture production, construction, beverage bottling, jewelry and textile production, and mining. Armenia has been designated as a beneficiary country under the Generalized System of Preferences (GSP) program, under which a range of products that Armenia might seek to export are eligible for duty-free entry to the U.S. The GSP program provides an incentive for investors to produce in Armenia and export selected products duty-free to the U.S. market.