The political relations between Armenia and France have traditionally been at high level, but the economic activeness is low, in particular the volumes of trade turnover.
Ambassador of France to Armenia Jean-Francois Charpentier also agrees with this assessment, “In both directions the volumes of trade is low- annually EUR 50 million. The situation is favorable in case of investments. Serious French companies operate in Armenia- Pernod Ricardm, Carrefour. If we are to describe bilateral economic relations with a sentence, we can say that trade turnover level is low, but there is serious French existence in the Armenian economy.”
According to the words of the Ambassador recently some activeness has been registered among French companies in sense of making investments in Armenia. Mr Charpentier brings concrete examples, “There is a tendency that French large enterprises get interested in the Armenian market conditioned by Iranian factor, as well as Armenia’s being a member of the EEU plays its role, which may give perspectives to the businessmen interested in Russian and Central Asian markets. Among energy companies “Schneider Electric” in the cooperation with Tashir Group opened a center of energy research in Armenia. Two large pharmaceutical companies have already started operating in Armenia. It’s true, they haven’t given any production yet, but they are engaged in importation and sale of medicine.”
In which case will French capital flow into Armenia? Ambassador explains, “An important factor for coming to Armenia will be the good feedback by the companies already operating in Armenia.”