Textile and fashion program to boost Armenian textile exports by $3 million in 1-3 years

YEREVAN, March 26. / ARKA /. A textile and fashion program being designed by Armenian experts in concert with UNIDO is expected to boost Armenian textile exports by $3 million in the next 1-3 years, according to Arman Khachatryan, the acting executive director of the Armenia Development Fund.

According to the National Statistical Service, in 2014 some 7.3 billion drams worth clothes were produced in Armenia, by 16.1% more than in 2013.

Arman Khachatryan said in the first stage of the program nine Armenian garment companies united under one common brand to create a lineup of products and promote sales and exports.

He said also the Armenia Development Fund had ensured the participation of Armenian companies in Photonics West 2014, a specialized exhibition of laser and optical technologies, held February 4-7 in San Francisco, USA. According to him, as a result Armenian companies are expected to sign 5-6 new contracts this year and boost related exports by 25%.

He said the Fund helped 22 Armenian companies to showcase their products at Prodexpo, the largest food exhibition in Russia, where they won six gold and 2 silver medals. The anticipated result is a rise in the export of Armenian foods to Russia.

The Fund also helped five Armenian wine companies to present their wines at a wine fair in Germany, where they reached arrangements to sign ten contracts, which will raise wine exports by 5-7%.

The Fund also organized two visits to Armenia by Canadian and Lithuanian business people and is working now to organize an Armenia-Morocco business forum.

Armenia Development Fund was established by the government in 2014 December by merging the Industry Development Fund with the National Competitiveness Fund and the National Tourism Agency.  Concurrently the government disbanded the Armenian Development Agency.-0-