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FT: Car exports from Armenia to Russia increased 200-fold to about $180 mln in January
... an engine size of about two litres or more. Many foreign car companies have sold off their production plants and shut dealerships inside Russia. Some have also pulled out of the market even though they are not subject to direct export controls. South Korea’s Hyundai has suspended operations and plans to sell its Russian factories. Cars arrive primarily from the US via the Black Sea port of Poti in Georgia, brokers and buyers said. Many are then brought to Armenia for customs clearance, as the country shares a customs-free trade bloc with Russia. The city of Gyumri is a key hub from where the vehicles head north to Russia by road, crossing through Georgia again. In January 2022, before the start of Russia’s invasion ...
07/19/2023Armenia and Republic of Korea to establish customs cooperation
Armenia and the Republic of Korea are planning to sign an intergovernmental agreement on cooperation in customs affairs and mutual assistance, Armenia's State Revenue Committee (SRC) said. YEREVAN, June 24. /ARKA/. Armenia and the Republic of Korea are planning to sign an intergovernmental agreement on cooperation in customs affairs and mutual assistance,...
06/24/2022Armenia’s acting economy minister believes it is necessary to help large companies develop as well
... government exempted today Alex Textile LLC, owned by Samvel Aleksanyan, one of the richest businessman in Armenia, from payment of customs duties on imported equipment, components and raw materials. In total, the company will spend 2 billion drams on the purchase ... ... SMEs it is necessary also to help large companies develop as well, so that they grow even more. For example, a country like Korea is built on two or three giants - Samsung and Hyundai, which have become the locomotive that helped raise its economy. We ...
07/01/2021World Customs Organization re-elects Armenian Customs Service as member of its audit committee
... attend the World Conference on Information Technologies, which will be held in Armenia on October 6-9. A wide range of issues of cooperation was also discussed with peer delegations of Russia, Belarus, Kazakhstan, India, Zambia and Korea. According to an agreement reached with Korean colleagues, Armenian customs officers will visit their country to see how Korean customs laboratories and information systems operate. -0-
07/04/2019Armenia’s standing in the Index of Economic Freedom 2019 worsens
... despite the previous government’s efforts to improve the business environment through tax reform, reduce corruption in the customs and tax administrations, and increase the transparency of procurement processes, Armenia’s geographic isolation, narrow ... ... "absolutely unfree" states. The leaders of the Index are Hong Kong, Singapore, New Zealand, while Cuba, Venezuela, and North Korea are outsiders. -0-
01/26/2019Car import in Armenia built up 71.2% and customs clearance prices downed
Car import in Armenia has grown and customs clearance prices have been downed, David Ananyan, head of the State Revenue ... ... Union, since before 2020 car import tariff remains unchanged - at 10% [the list in the agreement on Armenia’s accession to the Eurasian Economic Union], while in other countries... ... Armenia mainly from Georgia, Japan and the United States. German-, Japan-, U.S.- and Korea-made cars are imported in Armenia. -0---
01/17/2019Putin’s advisor speaks on Azerbaijan’s possible accession to EEU
... embraced all post-Soviet countries, we would have fewer armed conflicts, because at least part of the borders – I mean the customs borders, which is very painful for people who are on different sides of it, would disappear," he said. Asked whether ... ... businesses and the expert community from Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, as well as the USA, China, Qatar, South Korea, Iran, India and other countries. The forum is organized by the Ministry of Industry and Trade of the Russian Federation ...
10/23/2018Trade in agricultural products among EEU members increased by 63% in 2017 to $8.2 billion
... products among the member countries of the Eurasian Economic Union (EEU) increased by 63% in 2017 when compared to 2010, when the Customs Union was established, amounting to $8.2 billion, according to Stanislav Buben, a senior official at the Eurasian Economic ... ... consumers were the CIS countries (14.2%), the European Union (11.7%), China (9.6%), Turkey (9.2%), Egypt (8.6%), the Republic of Korea (7, 1%) and Iran (3.6%). "Trade in agricultural products of the EEU member countries has reached a new level in recent ...
02/22/2018Armenia not included in EU’s blacklist of tax havens
... reported quoting French finance minister Bruno Le Maire as saying. He said American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United ... ... other countries. In an interview with ARKA news agency Nairuhi Avetisyan, the head of a department on international tax and customs relations at the ministry of finance, said Armenia has been in active dialogue with the experts of the Code of Conduct ...
12/05/2017Eurasian economic integration’s initial rapid progress ends- report
... progress has ended. This is proved, in particular, by difficulties in negotiating the Customs Code and the common market in medicines and medical goods. These were the two... ... 2016, the EAEU worked persistently on expanding its foreign economic ties. Free trade agreements with Egypt, Israel, India, Iran and Singapore are being considered. A common... ... non-preferential agreement with China. Other potential partners include India, South Korea, Chile, Thailand and South Africa. The report notes the emerging convergence of...
05/19/2017Armenia improves its position in Heritage Foundation’s ranking for 2017
... enhance judicial independence and government transparency. Despite progress in tackling corruption, particularly in the tax and customs administrations, close relationships within political and business circles raise concerns about cronyism and undue influence.... ... 2017 ranking is topped by Hong Kong, Singapore, New Zealand, Switzerland and Australia. Outsiders are Cuba, Venezuela and North Korea. --0---
02/16/2017Armenia improves its position in Corruption Perception Index ranking
... Zealand as a country with a strong reputation for clean government. In 2013, New Zealand ties with Denmark for first place due to strong access to information systems and rules governing the behaviour of those in public positions. Afghanistan, North Korea, and Somalia scored the lowest at 8/100 points each. Armenia’s neighbours Turkey was ranked 50th, Georgia- 49th, Azerbaijan was ranked 127th and Iran-144th. Russia, Kazakhstan and Belarus, the members of the Customs Union, which Armenia is preparing to join, all were ranked far below Armenia. The CPI, released annually, scores and ranks the world’s countries and territories according to the perceived corruptness of their public sectors. The CPI is a composite ...
12/03/2013Head of EDB: pragmatic Eurasianism is a tool for upgrading CIS economies
... processes. The potential to converge economically and technologically in the post-Soviet space is crucial, but it is limited. Multiple benefits can be derived from deeper economic integration in the western (European Union) and eastern (China, South Korea, Japan, Southeast Asia) directions.” He emphasized it was important to understand that European and post-Soviet integration should not be deemed as mutually exclusive. “On the contrary, the formation of a strong Customs Union in the CIS can become a step towards integration with the European Union, because the Customs Union can become a more effective and strong partner for the EU than separate countries.” Eurasian Development Bank is an international financial ...
05/24/2013Armenia’s government must make efforts to improve republic’s positions in Doing Business-PM
... task for us is to reduce this burden for small and medium-sized business,” he underscored. “Another issue is related to customs clearance and trade, expenses for Armenian products export before reaching the first sea port. From this angle, we are ... ... Business for the seventh successive year, followed by Hong Kong, New Zealand, the USA, Denmark, Norway, Great Britain, Republic of Korea, Georgia and Australia. Georgia is the leader among post Soviet Union countries (the 9th in the ranking) and is followed ...
10/25/2012Volume of production of the plant “Armenal” in the first half of 2011 increased by 8.2% to 13.1 thousand tons
... volume for the reporting period amounted to 12 602 tons which exceeds the indicator of January-June 2010 by 4%. According to the Customs Service of State Revenue Committee of Armenia, export growth of ARMENAL in money terms for the dame period was 19.0% to ... ... countries on 5 continents. It sells its products mainly in the markets of Europe, North America, South-East Asia, Japan, China and Korea. ARMENAL was established in Yerevan in May 2000 on the basis of Kanaker aluminum factory (KanAZ) and is one of the largest ...
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