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`Armenia can be used as a base to tap EU'

Our Bureau

NEW DELHI, Dec. 5

THE Indian industry can use Armenia as a base to tap markets in the European Union and the whole of the Commonwealth of Independent States (CIS), the Armenian Minister for Foreign Affairs, Mr Vartan Oskanian, said here today.

Addressing a meeting convened by the Confederation of Indian Industry (CII), Mr Oskanian felt a good example for such operations would be textiles where Armenia utilises only seven-eight per cent of its textile quota with the EU.

``The Indian industry could leverage its strength in textiles and explore setting up shop in Armenia to tap the EU,'' the Minister said.

Mr Oskanian also invited Indian IT companies to set up joint ventures with the Armenian industry.