ECONOMY

Plan to boost Greek-Armenian business ties

Greek President Karolos Papoulias (pictured right) shakes hands with his Armenian counterpart Serzh Sarkisian after a press conference in Athens on Tuesday.

Sarkisian, who is on a two-day official visit to Greece, is being accompanied by his Finance Minister Tigran Davtyan. Greek Regional Development and Competitiveness Minister Michalis Chrysochoidis held a meeting with Davtyan, during which they agreed to take steps to improve weakening business ties between the two countries.

The ministers said they would jointly set up a group of experts to identify areas where Greece and Armenia can do business. Between 2004 and 2009, trade between the two nations fell by 38.4 percent, the Greek ministry said in a statement on Tuesday.

In 2009, the trade balance with Armenia was in Greece?s favor, showing a surplus of 8.5 million euros, the ministry added. Davtyan is scheduled to attend a Greek-Armenian business conference at the Athens Chamber of Commerce and Industry on Wednesday.