Promoting economic development through support to entrepreneurship | EUNewsletter

Promoting economic development through support to entrepreneurship

11 February 2013
DSC_0173

On 13 December, the the EU funded “East Invest” project presented results of ongoing activities and highlighted the achievements of its “Twinning” component. “East Invest” is a regional EU funded project implemented by the European Chamber of Commerce. with a local partner the Chamber of Commerce and Industry (CCI) of Armenia,

East Invest is a regional investment and trade facilitation project for the economic development of the Eastern Neighbourhood region, launched in the framework of the European Eastern Partnership initiative.
It targets Business support organisations and SMEs from Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, and Ukraine, who have potential for developing mutual cooperation and investment relations with the European Union.
At the beginning of the project, research was carried out, which singled out agriculture, information technology, textile, tourism, construction and transport as priority sectors for Armenia. Moreover, investment in Armenia has been mapped, and a study will be published in the coming months.

The Head of the Political Economic, Press and Information Section of the EU Delegation to Armenia, Onno Simons, stressed that fostering investment in the region was one of the main tasks of the EU, especially highlighted within the cooperation framework with Armenia: ‘ “East Invest” is a project directed at developing partnership and trade, and aims to contribute to the economic development of the countries under the EU Eastern Partnership’.

The meeting was attended by representatives of accredited international and diplomatic institutions in Armenia, as well as field professionals from a number of European countries.

The main beneficiaries of the three-year project are business support organisations and SMEs. T40 SMEs operating in Armenia were selected, the representatives of which received 5 days of practical training by their European counterparts. Moreover, in autumn 2012, SMEs participating in training events had the opportunity to visit leading European exhibitions in Paris, Milan and Turin. The aim of these visits was to explore onsite the relevant field, get to know the latest trends of the market and master marketing regulations, as well as the proper presentation of products, notedVladimir Amirian, the “East Invest” Project Coordinator in Armenia.

The CCI of Armenia has been implementing “East Invest” since the beginning of 2011, within the framework of which a series of events have been implemented. Early in 2012 the CCI began to implement the “Twinning” component for capacity building of the Arbitration Court adjacent to the Chamber, for international cooperation, among o thers. Visits to the Chambers of Commerce and Industry in Spain, Hungary and Poland have been organised for the exchange of experience and for capacity building.

Presently, the CCI of Armenia will organise an “Investment Conference” in spring 2013. The conference will be attended by 30-50 European companies.

Promoting economic development through support to entrepreneurship

On 13 December, the the EU funded "East Invest" project presented results of ongoing activities and highlighted the achievements of its “Twinning” component. “East Invest” is a regional EU funded project implemented by the European Chamber of Commerce. with a local partner the Chamber of Commerce and Industry (CCI) of Armenia, East Invest is a regional investment and trade facilitation project for the economic development of the Eastern Neighbourhood region, launched in the framework of the European Eastern Partnership initiative. It targets Business support organisations and SMEs from Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, and Ukraine, who have potential for developing mutual cooperation and investment relations with the European Union. At the beginning of the project, research was carried out, which singled out agriculture, information technology, textile, tourism, construction and transport as priority sectors for Armenia. Moreover, investment in Armenia has been mapped, and a study will be published in the coming months. The Head of the Political Economic, Press and Information Section of the EU Delegation to Armenia, Onno Simons, stressed that fostering investment in the region was one of the main tasks of the EU, especially highlighted within the cooperation framework with Armenia: ‘ “East Invest” is a project directed at developing partnership and trade, and aims to contribute to the economic development of the countries under the EU Eastern Partnership’. The meeting was attended by representatives of accredited international and diplomatic institutions in Armenia, as well as field professionals from a number of European countries. The main beneficiaries of the three-year project are business support organisations and SMEs. T40 SMEs operating in Armenia were selected, the representatives of which received 5 days of practical training by their European counterparts. Moreover, in autumn 2012, SMEs participating in training events had the opportunity to visit leading European exhibitions in Paris, Milan and Turin. The aim of these visits was to explore onsite the relevant field, get to know the latest trends of the market and master marketing regulations, as well as the proper presentation of products, notedVladimir Amirian, the "East Invest" Project Coordinator in Armenia. The CCI of Armenia has been implementing “East Invest” since the beginning of 2011, within the framework of which a series of events have been implemented. Early in 2012 the CCI began to implement the “Twinning” component for capacity building of the Arbitration Court adjacent to the Chamber, for international cooperation, among o thers. Visits to the Chambers of Commerce and Industry in Spain, Hungary and Poland have been organised for the exchange of experience and for capacity building. Presently, the CCI of Armenia will organise an "Investment Conference" in spring 2013. The conference will be attended by 30-50 European companies.