Armenia, U.S. to exchange customs information 

ArmInfo. Armenia and the United States will cooperate in the field of customs regulations. At a  meeting on May 30, the RA government approved a draft agreement between the two states for signing.

As noted in the rationale for the project, the document lays the  foundation for the formation of active cooperation in the customs  field between the customs services of the Republic of Armenia and the  United States of America, which will contribute to the development of  bilateral relations and expand opportunities for mutually beneficial  cooperation.

The draft agreement defines legal norms relating to the areas of  cooperation between the parties, document flow, grounds and cases of  mutual administrative assistance, as well as the procedure for the  exchange of information. The signing of this agreement will greatly  contribute to the identification and prevention of customs violations  and the creation of channels aimed at facilitating the safe and rapid  exchange of information. With the signing of the agreement, problems  arising in the exchange of information and implementation of requests  due to the lack of an international document regulating the scope of  requests between the customs services of the two countries will be  resolved. Providing mutual assistance between the customs authorities  of the two countries will also contribute to the correct application  of the customs legislation of the Republic of Armenia in the context  of identifying, preventing and regulating current problems as a  result of the interaction provided for under the agreement.

Considering the high levels of trade between the Republic of Armenia  and the United States of America, the signing of this agreement will  also contribute to a faster and more efficient response and  resolution of issues arising during the export and import of goods.

"The RA government will continue to consistently work on developing  and deepening the partnership with the United States, expanding  cooperation in matters of democratic reforms, the rule of law, the  fight against corruption, as well as dialogue in the economic and  political spheres," the justification for the draft agreement  emphasizes.

Over the past five years, trade turnover between Armenia and the  United States has increased 2.6 times. However, in January February  2024, the United States was in fifth place among Armenia's largest  trading partners. During this period, trade turnover between the  countries amounted to only $80.3 million, according to data from the  RA Statistical Committee.