Armenian exports may improve as ruble stabilizes and prices are liberalized in Russia - UMBA
31.03.2015,
11:09
The stabilizing of ruble and price liberalization in Russia may help improve the situation with exports in Armenia, head of the Union of Manufacturers and Businessmen (Employers) of Armenia (UMBA) Arsen Ghazaryan said.
YEREVAN, March 31. /ARKA/. The stabilizing of ruble and price liberalization in Russia may help improve the situation with exports in Armenia, head of the Union of Manufacturers and Businessmen (Employers) of Armenia (UMBA) Arsen Ghazaryan said.
The stabilizing ruble and the price liberalization inspires hope that the partner companies selling Armenian products in the Russian Federation will have a chance of signing stable long-term contracts, he told reporters in Monday.
According to Ghazaryan, Armenian exports experience problems due to depreciated ruble and reduced paying capacity of the market. This is the main reason for the major reduction in exports to Russia and CIS countries in January and February, he said.
Armenia’s foreign trade turnover with Russia amounted to $73.4 million in January this year, a reduction of 31% against January the year before. Armenian exports to Russia were about $168,900 in January 2015, as compared to $16.5 million in January 2014. Russian imports to Armenia were $73.2 in the period (18.5% decline). –0—
