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Armenia, Philippines step up economic cooperation

Armenia, Philippines step up economic cooperation

PanARMENIAN.Net - On August 16, Armenian government approved the proposal to sign an agreement with the Philippine government.

As RA Deputy Minister of Economy noted, Armenia and Philippines will step up economic, scientific and technical cooperation.

“This framework agreement will promote bilateral economic relations,” Ara Petrosyan said.

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Armenia has been listed in the top 20 among the world’s most economically free countries, raking the 18th out of 159 countries and territories.
Another of the issues the PM weighed in on was corruption. He said that new committees will be established to tackle the issue.
The foreign debt makes up around $4.5 billion, including the government’s $3.99 billion and the Central Bank’s $502.4 million debts.
The official said that the EU countries have already issued a mandate for negotiating a corresponding document.
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