During the meeting, the sides reaffirmed that economic cooperation between Armenia and the United States continues to develop dynamically, noting the positive progress achieved in recent months.

The discussions also focused on the U.S. process of granting Market Economy Status (MES) to Armenia.

Papoyan expressed confidence that the effective cooperation established between the two countries would help advance the process and further develop the bilateral economic agenda of mutual interest.

The United States’ recognition of a country as a market economy means Washington officially acknowledges that prices and production costs in that country’s economy are determined primarily by market forces rather than direct government control. The designation can enhance a country’s investment appeal, facilitate access to the U.S. market for certain producers, reduce the risk of additional duties in anti-dumping cases, and signal U.S. confidence in the country’s market-based economic system.

Published by Armenpress, original at https://armenpress.am/en/article/1256295