Armenian government adopts strategy to boost export-oriented industries
15.12.2011,
21:28
The Armenian government has adopted today a strategy designed to boost export-oriented industries.
YEREVAN, December 15. /ARKA/. The Armenian government has adopted today a strategy designed to boost export-oriented industries. 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.
’We have developed this fundamental document to specify Armenia’s industrial sector’s development up to 2020 with the focus on exports,’ economy minister Tigran Davtian said speaking at a recurrent Cabinet session.
Minister Davtian said the government plans to double exports by 2015 and increase them further to $3 billion by 2020.
According to official data, total exports in 2010 amounted to over $1 billion. Davtian said an Industrial Council will be set up chaired by the prime minister to supervise the implementation of this strategy. He said also 11 sub-councils will also be formed, one for each designated sector.
In general, the minister said, the strategy consists of two parts, the first approved today, is about the principles, approaches and tools that will be used to implement the strategy. The second part will include specific directions, sectors and projects. It will be more interactive and will be elaborated over the years," he explained.
Prime minister Tigran Sargsyan said half of the Council will be representatives of the private sector who will be rotated annually.
Armenia’s foreign trade in the first ten months of outgoing year surged by 17.1% year-on-year to 1.650.9 trillion drams in current prices which is an equivalent of $4.5 billion, according to the latest numbers, released today by the country’s National Statistical Service. It said exports grew by 32.1% to $1.082 billion while imports by 13% to $3.370.7 billion. The foreign trade gap was $2.288.1 billion. ($1-382.25 drams). -0-
’We have developed this fundamental document to specify Armenia’s industrial sector’s development up to 2020 with the focus on exports,’ economy minister Tigran Davtian said speaking at a recurrent Cabinet session.
Minister Davtian said the government plans to double exports by 2015 and increase them further to $3 billion by 2020.
According to official data, total exports in 2010 amounted to over $1 billion. Davtian said an Industrial Council will be set up chaired by the prime minister to supervise the implementation of this strategy. He said also 11 sub-councils will also be formed, one for each designated sector.
In general, the minister said, the strategy consists of two parts, the first approved today, is about the principles, approaches and tools that will be used to implement the strategy. The second part will include specific directions, sectors and projects. It will be more interactive and will be elaborated over the years," he explained.
Prime minister Tigran Sargsyan said half of the Council will be representatives of the private sector who will be rotated annually.
Armenia’s foreign trade in the first ten months of outgoing year surged by 17.1% year-on-year to 1.650.9 trillion drams in current prices which is an equivalent of $4.5 billion, according to the latest numbers, released today by the country’s National Statistical Service. It said exports grew by 32.1% to $1.082 billion while imports by 13% to $3.370.7 billion. The foreign trade gap was $2.288.1 billion. ($1-382.25 drams). -0-
