Introduction of new technologies and capital investment will increase Armenian agriculture’s productivity: America study

YEREVAN, July 16. / ARKA /. Introduction of new technologies and capital investment in Armenia’s agriculture will increase its productivity and the competitiveness of local goods in foreign markets, Tigran Jrbashian, head of Ameria advisory company’s development and consulting division, said today.

He said the so-called industrial agriculture is already developing in Armenia, which needs capital investments. This segment is made of large greenhouses, fish farms and gardening, he said when presenting the results of a study called " Development of Industrial Agriculture in Armenia" conducted by Ameria .

He said given the small size of the local market, the development of industrial agriculture in Armenia is contingent largely on export potential According Jrbashian, of 40 CIS and Eastern Europe countries researched by Ameria, Armenia is the  leading country in terms of agricultural share in the overall GDP - about 19-21%, however, in terms of productivity, it significantly lags behind. He said a lot of money has been invested in the last 2-3 years in boosting agricultural productivity.

"We believe that the state support for agricultural development should be substituted  by assisting to raise its productivity  and creation of favorable conditions for it,’ he said.

According to Armenia’s National Statistical Service, the gross agriculture output, including that of fisheries in January-May 2013 increased by 2.9% compared with the same period of the last year to 152.7 billion drams. -0-