Nerses Yeritsyan: Armenia needs to diversify its economy to boost export

PanARMENIAN.Net - Armenian Minister of Economy Nerses Yeritsyan said that the essence of the new model for growth of Armenia’s economy is boosting export.

All that is produced in industry and field of services should be a subject for export, i.e. be competitive in international markets, Yeritsyan told in his opening remarks at Tasks of Stimulating Armenia’s Export conference.

According to the Minister, the crisis has revealed that Armenia will be unable to secure a sustainable growth within the upcoming ten years without solution of basic problems.

“Other country’s experience showed that the more a country is export-oriented, the better it withstands crises. It means that it is necessary to increase Armenia’s global competitiveness, opportunities and abilities to export own goods to the global market. To this end, we should change and keep up with the developed countries economies,” said Yeritsyan.

He added that Armenia needs to diversify its economy to increase export.