HOUSE OF REPRESENTATIVES ADOPTS KEY ARMENIA TRADE MEASURE

PanARMENIAN.Net - The House of Representatives of the US Congress approved the legislation providing for establishing permanent normal trade relations between Armenia and the US. According to the reports by the Armenian Assembly of America (AAA), 110 House members supported the bill submitted by co-chairmen of the Congressional Armenian Caucus Joe Knollenberg and Frank Pallone. The next step will be consideration of the measure by the full Senate. The document would ensure lower tariffs on importing Armenian goods and services to the US, activate mutual investments as well we give greater access to the Armenian entrepreneurs to U.S. government credit facilities on a permanent basis. In the words of AAA chairman Hrayr Hovnanian, the legislation will also help to alleviate the consequences of the Armenia's economic blockade imposed by Turkey and Azerbaijan. To remind, the legislation on normalizing permanent trade relations between Armenia and the US was submitted to the Senate August 2003.