Washington, Yerevan set to sign customs cooperation agreement

Armenia and the United States are poised to finalize a customs cooperation agreement, recently approved by the Armenian government, Caliber.Az reports via Armenian media.

While the details of the draft agreement remain undisclosed until the signing, it is expected to outline sectors of cooperation and procedures for information exchange to combat smuggling and customs violations. Additionally, the agreement aims to streamline procedures for legitimate businesses.

Despite the absence of prior official cooperation documents between the two countries' customs authorities, bilateral trade remains significant, with the United States ranking among Armenia's top ten trade partners.

However, Armenia primarily serves as an importer, with exports totalling less than $50 million out of a total trade volume of $670 million in 2023.