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• ABBC: Encouragement and support for UK-Armenia business growth

A chamber of commerce is a good idea but the Armenian government has to first shake off it's reputation as a band of lawless thugs before it can hope to attract any worthwhile investment. The country's development has been stymied by its recent past, with even ministers running amok and openly brandishing weapons in public! How can any investor worth his salt possibly invest in those type of...

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“The organization has embraced companies that have an Armenian-British origin and operate in Armenia. We should be able to support and bring into a common framework the activities of British companies in Armenia,” ABBC Director General Armine Israelyan told ArmeniaNow.

Currently, the Chamber has 15 companies. Among them are such major companies as BMI, HSBC Bank Armenia, ArpaSevan, Ernst & Young.

(It is a structure similar to the American Chamber of Commerce in Armenia (AmCham), which was established in 2000 and now has some 80 member companies representing different countries and engaged in a wide range of sectors.)

During the official opening ceremony for ABBC last month, Hayk Harutyunyan, Deputy Chairman of the Board of Directors and a Founding Member, said that the goal of the organization is to contribute to the strengthening of relations between Armenia and the United Kingdom, their educational and cultural ties, financial integration, economic cooperation and cooperation on the civil society level.

“Today we attach great importance to the engagement of British businessmen and their further investments in different sectors of the Armenian economy. We have also taken the initiative to establish a similar structure in London,” said Harutyunyan.

UK Ambassador to Armenia Charles Lonsdale mentioned that “ABBC will allow its participants to learn more about Armenia and will provide needed information and support.”

ABBC will serve as a business network link that pursues the goal of promoting and strengthening Armenian-British commercial ties, inviting and attracting British investments in Armenia and generally promoting the establishment of British business representations in the country. Among the main objectives of the Chamber is also the protection of entrepreneurs’ interests.

“The indicators are positive. Our members today have gathered at once and this is already an indicator. The large companies that are already here instill confidence [in us]. They realize the importance of this Chamber and that’s why they have joined us,” says ABBC Director General Israelian.

The Armenian-British Business Chamber is expecting to open its website www.abbc.am in the coming days.