PM instructs entrepreneurs to boost Armenian exports to Russia

PM instructs entrepreneurs to boost Armenian exports to Russia

PanARMENIAN.Net - Armenia will try to increase its volume of exports to Russia in light of Moscow’s new ban on food imports from the west, Armenia’s Economy Minister said.

As Asbarez reported citing Arka, Karen Chshmarityan added, however, that the Ministry finds it premature to assess the extent of the advantage that Russia’s trade restrictions will produce for Armenia.

Chshmarityan said that Prime Minister Hovik Abrahamyan held a special session and instructed the economy and agriculture ministries to provide support to entrepreneurs for increasing their exports to Russia.

The Russian government banned fruit, vegetables, meat, fish, milk and dairy imports from the United States, the European Union, Australia, Canada and Norway last week, RFE/RL’s Armenian service (Azatutyun.org) reports in retaliation for sanctions over Ukraine. The ban took effect on August 7 and will last for one year.

Armenian Agriculture Minister Sergo Karapetyan said the Russian move opened up new opportunities for Armenian farmers and food-processing companies. “That is an additional opportunity for us which we must use very quickly and occupy that [greater share in the Russian] market,” he told RFE/RL’s Armenian service.

“It’s an unlimited market for us … I think we can double export volumes by the end of this year,” the minister added, listing fruits, vegetables, meat, dairy, canned food and soft drinks.

 Top stories
Maufacturing of tobacco products increased by 49.1% to AMD 94 bn, with production of jewelry also climbing 61% to AMD 18 bn.
Net inflow of remittances to Armenia in the reporting period amounted to approximately $891,4 million, down by 35.8% remitted in 2014.
The EBRD will acquire a stake of around 20% for $30 million. The remaining $10 million will be used for future capital increases.
IFC thus aims to increase the stability of Armenia’s banking sector and support the strategic goals of Ameriabank.
Partner news