ArmInfo. On September 19-22, 2016, Made in Armenia exhibition was held at the Meridian expo center. Over 300 companies from Armenia and Artsakh from various export- oriented sectors of industry will be presented at the exhibition to demonstrate the potential of local industry, find new sales markets, attract foreign investors, set up joint ventures, establish business relations, and to provide an opportunity for fruitful negotiations with distributors and foreign investors.
Hayk Mirzoyan, Export Manager at the Development Foundation of Armenia, says that all applications for participation have been approved. "Last year nearly 300 companies presented their products at the exhibition, but this year their number is 330," Mirzoyan says, stressing that the pavilions have been provided to the participants free of charge. The organizers did their best to ensure the Syrian Armenians' participation, because they are still inexperienced in establishing ties with the local structures.
Karen Mkrtchyan, CEO of the Development Foundation of Armenia, says that the organizers expect delegations of potential buyers and investors from the EEU and EU countries, Iran, the United States, and China to attend the exhibition to promote exports. In addition, the Foundation has certain tools to support exporters - the Foundation subsidies loans and supports companies to attend foreign exhibitions.
An economic forum will be held on the sidelines of the exhibition on September 20. The forum will cover investment projects in transport, pharmacy and agriculture.
To note, the Made in Armenia exhibition was first held in 2015 and was timed to the events commemorating the Armenian Genocide Centennial. This year, it is timed to the 25th anniversary of Armenia's independence. The organizers of the event are the Development Foundation of Armenia, the National Department for Trade, Investment and Tourism, and the Armenian Ministry of Economy.
According to the National Statistical Service of Armenia, in Jan-Dec 2015, the foreign trade turnover in Armenia dropped by 20.6% to 2.3 trillion AMD ($4.7 bln), with exports falling by 3.9% to 710.5 bln AMD ($1.5 bln), and imports declining by 26.5% to 1.6 trillion AMD ($3.3 bln). In Jan-June 2016, the foreign trade turnover grew by 2.7% to $2.3 bln, with exports increasing by 16.7% to $815 mln, and imports declining by 3.7% to $1.5 bln.
