Joining WTO Promoted Armenia's Integration into World Economy

PanARMENIAN.Net - Armenia's entry to the World Trade Organization in 2003 promoted the republic's integration into the world economy and made relations with partners more predictable, Armenian President Robert Kocharian said when addressing the Bertelsmann Fund in Berlin, reported the RA leader's press office. In his speech Kocharian, specifically noted, "In past year's joint research of Wall Street Journal and Heritage Foundation Armenia was 27th on the economy openness index. The annual growth of GDP made 12.2% in average within past 6 years. Foreign investment made $500 million past year. This allows the government solve social issues and I would like to specially mention the Poverty Reduction Program.



This year our government announced a new priority, which will lead to a systemic change in the society. We have launched a large-scale program of development of rural regions of Armenia. At present there is a gap between the capital and the regions. We have mobilized resources and also addressed Diaspora structures. In our opinion it will stimulate the youth to develop their regions, towns and village communities.



Another competitive advantage, on which we base our reforms, is the high education level in Armenia. IT already accounts for 2% of the GDP. Meanwhile, we fully realize that it would be impossible to use that advantage without serious changes in our education sector and science. This is why Armenia actively participates in Bologna process, making its education system conform to European standards. We are also working out a strategy of large-scale reforms in fundamental and applied science. In a difficult transition period the need to invest in people was a bit left out of sight and we are trying to compensate it now.