Problems on Carrefour’s way to Armenia may affect country’s rating, newspaper says

YEREVAN, February 13. /ARKA/.  Obstacles on French supermarket chain Carrefour’s way to the Armenian market may have serious consequences over the country’s rating, Haykakan Zhamanak (Armenian Time) daily reports referring to its sources in international organizations.

“In particular, Armenia’s position in Doing Business rating may drop by several points due to the problems created on Carrefour’s way to the market”, the newspaper says. Some estimates show that the country may drop to between the fiftieth and the seventieth places, instead of the current 32nd position, according to the newspaper.

The newspaper referred their question to Carrefour central office, but a short and standard answer received shows that the situation is still extremely unclear.

Earlier Zhamanak (Time) newspaper, referring to its sources, reported that Russian businessman and owner of Dalma Garden Mall Samvel Karapetyan suspended his contract with famous French retail chain Carrefour. The newspaper also said his decision was caused by opposition of Samvel Alexanyan who imports essential commodities to Armenia and whose business may suffer if Carrefour arrives.

Armenian prime-minister Tigran Sargsyan said that Armenia is very interested in Carrefour’s arrival and that the government will do its best to help the famous retail chain come to Armenia.

According to the prime-minister, the sides (Carrefour and Samvel Karapetyan) signed not an agreement, but a memorandum about intentions and had disagreements around it.

Carrefour S.A. is a French multinational retailer headquartered in Boulogne Billancourt, France, in Greater Paris. It is one of the largest hypermarket chains in the world (with 1,395 hypermarkets at the end of 2009), the second largest retail group in the world in terms of revenue, and the third largest in profit (after Wal-Mart and Tesco). Carrefour operates mainly in Europe, Argentina, Brazil, China, Colombia, Dominican Republic, United Arab Emirates and Saudi Arabia, but also has shops in North Africa and other parts of Asia.–0--