YEREVAN (Arka)—Armenia and Israel intend to intensify their ties in customs, the press office of Armenia’s ministry of finance has reported.
The report says the two governments signed an agreement to provide mutual assistance with customs regulations and enforcement.
The agreement was signed when Armenia’s delegation, headed by the minister of finance Gagik Khachatryan, was in Jerusalem on Nov. 26. It envisions direct exchange of information, joint anti-smuggling measures, sharing of experience and joint training activities to develop trade and economic ties and facilitate trade growth between the countries, says the report.
According to the press office, imports from Israel amounted to $28.7 million and Armenian exports to Israel were $2.4 million in ten months of 2014.
During the visit, the sides discussed possible applications of the new agreement and other issues of mutual interest.
The first stage of Armenia-Israel negotiations on the agreement was held in Jerusalem in May 2012. Apart from this, talks were held from Nov. 10 to 13, 2014, in Yerevan on a draft convention to prevent double taxation and prevent tax evasion. The convention was initialed afterwards.