WASHINGTON, DC – New Jersey Congressman Robert Andrews (D-NJ) and Armenian Caucus Co-Chairman Frank Pallone (D-NJ) introduced legislation this week commending Armenia’s accession into the World Trade Organization (WTO), reported the Armenian National Committee of America (ANCA).
The legislation, H.Res.39, introduced on January 28th, notes that “international trade and investment are powerful engines of economic growth that help reduce poverty and create the culture of liberty.” It goes on to note that WTO membership and the establishment of broader trade agreements, in general, “will provide Armenia with greater access to world markets and create new opportunities for employment.” The resolution concludes by expressing the House of Representatives “sincere congratulations to Armenia on its accession to the World Trade Organization in December of 2002.”
Armenia’s entry into the WTO has been widely welcomed as a major step toward integrating Armenia into the global economy. In a New Year’s statement, Armenian Ambassador to the U.S. Arman Kirakossian stressed that “accession is important not only for bringing Armenia closer to the global trading patterns or for its symbolic value for Armenia’s political and economic image, but also for augmenting the Armenian economic legislation and thus improving the business climate in the Republic.”
“We appreciate this expression of confidence in both Armenia’s economic growth and the rapid progress Armenia has made in terms of integration into the world economy,” said Aram Hamparian, Executive Director of the ANCA. “In the coming weeks and months we look forward to working with Congress and the White House in helping – through legislation, bilateral agreements, and cooperation with the private sector – to remove trade barriers and expand opportunities for cooperation between U.S. and Armenian businesses.”
The legislation has been referred to the House Ways and Means Committee for consideration. The full text of the resolution follows.
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H. RES. 39
Congratulating Armenia on its recent accession to the World Trade Organization.
Whereas international trade and investment are powerful engines of economic growth that help reduce poverty and create the culture of liberty;
Whereas broader and more comprehensive trade agreements will provide Armenia with greater access to world markets and create new opportunities for employment;
Whereas in 2001, exports from the United States to Armenia totaled $49,870,000 and imports to the United States from Armenia totaled $32,920,000;
Whereas Armenia’s Gross Domestic Product was $1,970,000,000 in 2001, and the average growth rate during the last four years was 7.2 percent; and
Whereas Armenia has excellent trade relations with the United States, and increased trade with other countries will surely benefit the global community: Now, therefore, be it
Resolved, That the House of Representatives offers its sincere congratulations to Armenia on its accession to the World Trade Organization in December of 2002.
