Vazgen Safaryan: Armenia should be export-oriented countryAugust 26, 2010 - 15:53 AMT PanARMENIAN.Net - Chairman of Local Manufacturers Union, Chairman of the Committee for Financial, Economic and Budgetary Issues of the Public Council, Vazgen Safaryan said that Armenia should approach the vision of industrial country’s establishment. “The situation in Armenia’s industrial field causes concerns,” Safaryan told a press conference on August 26. He said that in 1988 Armenia’s industry totaled 66.7% of the GDP, while now this index reduced to 27%. According to Safaryan, the government’s policy should focus on export. “We should produce ready products, but not raw materials. Meanwhile, our import exceeds export by 4.5 times,” he noted. Commenting on reasons, Safaryan said that it is easier to import, thus, the government should create greater privileges for producers. Moreover, Safaryan believes that a range of imported products can be produced in Armenia – sugar, sunflower oil, flour, the self-sufficiency of which makes 30% in Armenia today, while it could reach 50%. According to Safaryan, the policy of free market economy pursued by the Armenian government does not allow it to completely regulate the economy, as a result of which the country's industry is not developed today. However, the government should follow the country’s foreign trade turnover and currency policy. “It is necessary to switch over to a fixed exchange rate, which may total around AMD 450-500/ USD 1, to facilitate export,” concluded Vazgen Safaryan. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem." U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |