The National Assembly of Armenia approved an agreement with the United Arab Emirates aimed at facilitating access for companies of both countries to service markets. Once the document enters into force, Armenian businesses will be able to operate on preferential terms in 127 sectors of the Emirati economy instead of the previous 32. Thus, the list of available areas will expand nearly fourfold.
The new sectors include information technology, telecommunications, education, healthcare, and postal services. The agreement also provides for expanding opportunities for investment and the provision of services, creating additional conditions for Armenian enterprises to enter the UAE market. Meanwhile, specific mechanisms for applying the new rules will depend on the provisions of the document.
For Emirati companies, the corresponding list of opportunities in Armenia will increase from 102 to 122 sectors. Thus, the agreement provides for mutual expansion of access to service markets, although the scale of changes differs for each party: Armenian companies will gain access to 95 additional areas, while UAE businesses will receive 20 more.