WASHINGTON, DC – The Armenian National Committee of America (ANCA) today welcomed the fourth semi-annual meeting of the U.S.-Armenia Task Force, to be held in Yerevan, Armenia on January 23rd and 24th, as a important step in expanding U.S.–Armenia commercial activity and further strengthening Armenia’s growing economy.

Amb. Bill Taylor, coordinator of U.S. assistance to Europe and Eurasia, will lead the U.S. delegation, which will include officials from the Departments of Commerce and Treasury, Justice, and Agriculture, as well as from the office of the U.S. Trade Representative and the U.S. Agency for International Development. Leading the Armenia delegation will be Finance and Economy Minster Vardan Khachatryan.

Among the topics of discussion during the two day meeting will be the adoption of a treaty on bilateral taxation – or “double taxation” – of companies and individuals living and working in both countries. The adoption of such a treaty would clarify the taxation of transactions, investments, rents, royalties, management contracts, dividends, interest and salaries. (Please check out the “Additional Documents” section below for details on the bilateral taxation issue and a related social security agreement.)

Other topics on the Task Force agenda include promoting economic and financial sector reforms; fighting corruption; Armenia’s accession to the World Trade Organization; expanding tourism in Armenia; increasing Armenian imports to the United States; cooperation in fighting international terrorist financing; maximizing the effectiveness of the U.S. assistance program, and; domestic and regional energy generation and distribution.

“We appreciate the farsighted efforts of the Task Force and, in particular, the leadership of Ambassador Taylor in facilitating the expansion of our economic relationship with Armenia,” said ANCA Executive Director Aram Hamparian, who consulted with Amb. Taylor and his staff last week at the State Department. “We are confident that the Task Force will make progress on the many important bilateral issues on its agenda, and are hopeful that its members will have the opportunity to explore innovative ways – among them a bilateral taxation treaty and social security agreement – to build upon the enduring friendship, shared values, and growing economic ties between the United States and Armenia.”

The U.S. Armenia Task Force was formed in January of 2000 to help coordinate the efforts of the Departments of State, Commerce and Treasury, the Trade Development Agency, the U.S. Agency for International Development, and the National Security Council to promote economic cooperation between the U.S. and Armenia and to assist Armenia in its transition to a market-oriented economy. The Task Force is scheduled to meet twice a year, and alternates venues between Yerevan and Washington, DC.

For more information about Armenia’s economy and U.S.-Armenia economic activity, visit the Armenia page on the website of the U.S. Department Commerce:
http://www.bisnis.doc.gov/bisnis/country/armenia.cfm