EENI Global Business School

Business in Armenia. Armenian Market



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Syllabus of the Subject

Foreign Trade of Armenia. Economic Profile. Yerevan

  1. Introduction to the Republic of Armenia (Europe)
  2. Armenian Economy
    1. Economic Profile of the Armenian regions (Marzes)
  3. International Trade of Armenia
    1. EU-Armenia trade relations
  4. Investment in Armenia
  5. Business in Yerevan
  6. Business Opportunities in Armenia
  7. Access to the Armenian Market
  8. Business Plan for Armenia

The objectives of the subject “International Trade and Business in Armenia” are the following:

  1. To analyze the Armenian Economy and Global Trade
  2. To identify business opportunities in Armenia
  3. To explore the Armenian trade relations with the student's country
  4. To know the Armenian Trade Agreements
  5. To develop a business plan for the Armenian Market

Online Student Master in International Business

The Subject “Foreign Trade and Business in Armenia” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: World Trade.

Doctorate in International Business (DIB) Online

Masters: International Business, Foreign Trade.

Masters in International Business and Foreign Trade (MIB)

Armenia, Masters, International Business Trade Armenian Students Վարպետ միջազգային բիզնես

Languages: Masters, Doctorate, International Business, English or Study Master Doctorate in International Business in Spanish Armenia Masters Foreign Trade in Portuguese Arménia Study Doctorate in International Business in French Armenie.

  1. Credits of the subject “Doing Business in Armenia”: 1 ECTS Credits
  2. Duration: one week

International Trade and Business in Armenia

Trans-European Transport Corridors

  1. North-South Corridor (India-Russia)
  2. Europe-Caucasus-Asia Corridor
  3. Access to the Afghanistan-Turkey Corridor (Lapis Lazuli)

Market Access - Trade Agreements

Preferential Access and Trade Agreements of Armenia

  1. Armenia and the Orthodox Economic Area
  2. Commonwealth of Independent States - Free-Trade Area (CISFTA)
  3. Eurasian Economic Union
  4. The EU:
    1. Armenia is a beneficiary of the GSP
    2. EU Eastern Partnership
    3. European Neighborhood Policy
    4. EU-South Caucasus
    5. Black Sea Synergy
  5. Black Sea Cooperation
  6. Armenia-Turkmenistan Agreement
  7. Armenia-Moldova Agreement
  8. Armenia-Kazakhstan Agreement
  9. Armenia-Ukraine Agreement
  10. Kyrgyzstan-Armenia Agreement
  11. Georgia-Armenia Agreement
  12. Eurasian Economic Union (EAEU)-Vietnam Agreement
  13. Russia-Armenia Agreement
  14. Iran-Armenia Agreement
  15. Tajikistan-Armenia Agreement
  16. SCO (Dialogue Partner)

Armenia was an observer country at the Eurasian Economic Community (EurAsEC).

Trade Facilitation Programs. TFA Agreement

  1. WTO
    1. GATS
    2. Agreement on Sanitary Measures
    3. Agreement on Technical Barriers to Trade
    4. Agreement on Preshipment Inspection
    5. Agreement on Safeguards
    6. Trade Facilitation Agreement
  2. WCO
    1. Kyoto Convention
  3. COTIF Convention
  4. BIC (Containers)
  5. Chicago Convention (ICAO)
  6. International Maritime Organization 
    1. Istanbul Convention - not a member
  7. Customs Convention on Containers
  8. Rotterdam Rules
  9. Convention Harmonization of Frontier Controls of Goods
  10. IRU
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
  11. CIM / CIT Rules

Globalization and International Organizations

Euro-Asian Organizations:

  1. OSCE
  2. Asian Development Bank
  3. ESCAP
  4. UNECE
  5. European Investment Bank
  6. Arab League - Observer State

Global Economic Organizations of Armenia

  1. UN
  2. WB
  3. IMF

The Republic of Armenia is situated in the Southern Caucasus at the crossroads of Europe and Central Asia.

  1. Yerevan is the capital of the Republic of Armenia
  2. The neighboring countries of Armenia are Georgia, Azerbaijan, Iran, Nakhijevan (Azerbaijan), and Turkey
  3. The population of Armenia is 3.2 million people (annual growth rate of 1.4%)
  4. Armenian area: 29,743 km²
  5. Ethnically, Armenia is a homogeneous nation with 96% of Armenians
  6. Armenian is the official language
    1. Russian is the second language
  7. Independence of Armenia: 1991 (Soviet Union)

Main religion in Armenia: Orthodoxy Christianity (Armenian Apostolic Church).

Orthodox Christianity, Ethics and Global Business

Armenia belongs to the Orthodox Economic Area.

Foreign Trade (Importing, Exporting)

Armenian Economy.

  1. The Republic of Armenia ranks in 36th place in economic freedom (Heritage Foundation)
  2. Trade Relations between Armenia and the EU, including the foreign trade and economic cooperation, are regulated by the Partnership and Cooperation Agreement (European Neighborhood Policy - Black Sea Synergy)
  3. Main production: food products (alcoholic beverages, chemical and metallurgy industry)
  4. Agriculture is principally based on the animal husbandry and plant growing
  5. Foreign direct investment and international trade policies of the Republic of Armenia are considered to be the most open in the Commonwealth of Independent States (CIS)
  6. Foreign companies in Armenia are encouraged to invest and are entitled by law to the same treatment as local enterprises
  7. The Republic of Armenia is exploring its economic relations with Iran
  8. The Armenian Development Agency was created in 1998 by the Government of the Republic of Armenia to facilitate the foreign direct investments and promote the exports

Trade Agreements and preferential access of Armenia

The Republic of Armenia, Albania, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey, and Ukraine, are members of the Organization of the Black Sea Economic Cooperation. Armenia is also a member of the Commonwealth of Independent States (CIS).

The Republic of Armenia has free trade regimes with Belarus, Georgia, Moldova, Kazakhstan, Russia, Ukraine, Uzbekistan, Tajikistan, and the Kyrgyz Republic.

Armenia has a Most-favoured-Nation Trade Regime with Argentina, Bulgaria, Canada, China, Cyprus, the EU, Iran, India, Hungary, Lebanon, Poland, Romania, Syria, Switzerland, Vietnam, and the U.S..


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