Sharjah Chamber Of Commerce And Armenia Explore Investment Cooperation In Agriculture Sector

The Sharjah Chamber of Commerce and Industry (SCCI) recently engaged in discussions with the Armenian Embassy in the UAE. The focus was on strengthening business ties, particularly in agriculture. Both parties explored ways to enhance collaboration and support for their respective business communities.

During a meeting at SCCI’s headquarters, Abdallah Sultan Al Owais, Chairman of SCCI, met with Karen Grigorian, Armenia's Ambassador to the UAE. They discussed signing a Memorandum of Understanding (MoU) to develop cooperation and strengthen economic ties. This MoU aims to create opportunities for entrepreneurs from both nations to exchange expertise and identify investment prospects.

The discussions highlighted the importance of improving communication between entrepreneurs in Sharjah and Armenia. By enhancing trade and investment cooperation in agriculture, they aim to advance agricultural projects and ensure sustainable food security. This initiative is expected to foster stronger ties between the two countries' business communities.

Al Owais emphasized SCCI's commitment to elevating economic cooperation with Armenia. He noted the promising potential for collaboration, especially given the growth in commercial relations between Sharjah and Armenia. The chamber is dedicated to providing incentives and support to boost bilateral trade and investment.

The UAE emerged as Armenia’s second-largest trading partner in 2023, with trade reaching approximately $2.85 billion. This positive trend continued into 2024, with trade volume increasing to around $2.173 billion in the first quarter alone. These figures highlight the growing economic exchange between the two nations.

The Sharjah Chamber expressed its readiness to assist Armenian businessmen by facilitating their integration into Sharjah's market. They aim to provide guidance on navigating local business environments, thereby supporting Armenian entrepreneurs in establishing successful ventures.

Through organizing joint events and forums, both sides plan to build partnerships among investors from Sharjah and Armenia. This initiative will help entrepreneurs exchange knowledge and explore key investment opportunities across various sectors.

The meeting underscored a shared vision for future collaboration between Sharjah and Armenia's business communities. By focusing on agriculture, both parties aim to achieve sustainable development goals while enhancing food security through innovative projects.

With inputs from WAM