To be able to compete at global markets Armenian companies should respect fair competition rules at home: IMF
30.05.2012,
17:12
In order to be able to compete at global markets Armenian companies should respect fair competition rules at the local market, IMF Resident Representative in Armenia Guillermo Tolosa, said in an exclusive interview with ARKA news agency.
YEREVAN, May 30. /ARKA/. In order to be able to compete at global markets Armenian companies should respect fair competition rules at the local market, IMF Resident Representative in Armenia Guillermo Tolosa, said in an exclusive interview with ARKA news agency.
Therefore, a key step for the government is to secure a well-functioning domestic competition, he said. At the same time Tolosa said that despite making a set of changes to the national competition legislation, there are still many obstacles that need to be addressed, which first of all hinder development of small and medium-sized enterprises.
He said a strong and unwavering focus on providing a flexible exchange rate of the national currency is another crucial factor to improve the country's export competitiveness.
"Overvalued currency seriously damages the competitiveness of Armenian goods, as this would mean that they will cost more than they should in international markets, and consequently it will be more difficult to sell them," he said.
Tolosa also stressed that the Armenian government intends to implement a number of important steps as part of its new industrial export-oriented strategy. -0-
