Industrial council will be set up to supervise implementation of export-oriented industrial strategy

YEREVAN, December 5. /ARKA/. Speaking Sunday at a seminar held by the ruling Republican Party of Armenia (RPA) to discuss a new government-designed strategy to promote export-oriented industries Armenian prime minister Tigran Sargsyan said an Industrial Council will be set up to supervise the implementation of this strategy, designed for 2012-2020.

“Such drastic changes must be legitimate. The government has no right to adopt the strategy alone. Therefore it is necessary to create a common platform for cooperation between private and public sectors,” he said.

The prime minister said also since the Council will not be able to organize competent discussions on all economic sectors, 11 sub-councils will also be formed, one for each designated sector.

Sargsyan said their work will be coordinated by the Ministry of Economy, in cooperation with the Armenian Development Agency and very likely with donor agencies, primarily the World Bank.

The strategy developed by a group of experts commissioned by the World Bank and with the assistance of the Ministry of Economy, focuses on the formation of an advanced industrial system, aimed at boosting exports, which in turn is supposed to stimulate production of high quality products meeting international standards, expansion of foreign markets and creation of new jobs.

Separate development concepts will be developed for its sector. Concepts for brandy, pharmaceutical and precision engineering sectors have been already developed, Sargsyan said.

After a series of discussions the finalized strategy will be submitted to the government for approval before the end of this year.  -0-