The Union of Manufacturers and Businessmen of Armenia (UMBA) was founded in 1996. UMBA is a not-for-profit non-governmental organization that unites businessmen which hold the leading position in economic entities. The inherent feature of the UMBA activities, which has great authority in Armenia as well as in foreign countries, is the active participation in improving the economic legislation and protection of interests of local manufacturers, development of international business co-operation, creation of mutually beneficial relations for companies inside Armenia and abroad. UMBA performs its activities on the basis of self-management, transparency and democracy, with the principles of voluntariness and equality of membership. UMBA cooperates constructively with all power structures: the Administration of the President of the RA, the National Assembly and its committees, the Government of RA with its units. UMBA cooperates with a number of Armenian state and non-governmental organizations.