Friday, July 15 2016 17:57
Naira Badalian

Armenian-style import substitution or application of non-tariff policy measures to support local producers

ArmInfo. Armenian Economy Minister Artsvik Minasyan thinks that it is necessary to conduct an import substitution policy with respect to all commodities, which can be 
produced in Armenia within the framework of the national model of Armenian economy development.      

The minister says that as of today nearly 700 items are imported to Armenia from Turkey. At the current stage 50 items have been selected from that list. The Government has already held debates with the parties concerned and a discussion with broad public strata will shortly be organized. 

Minasyan points out that possible application of non-tariff regulation measures is currently being discussed.  The matter concerns measures aimed at enhancing the control over quality and composition of products. He pointed out the inefficiency of a direct ban and tariff policy measures, because the same goods may easily enter the EEU countries' market and then will enter Armenia without any additional customs duties.    

He stressed the need to speed up efforts towards import substitution in Armenia, but this should be done within the framework of the government policy of elaboration of a national economy development model, particularly, for the goods that can be produced in the territory of Armenia. 
                    
To recall, on April 21, a group of young people held a protest action near the Armenian Government building. The demonstrators demanded banning the import of Turkish goods to Armenia and contributing to production development in Armenia. For that purpose, they stressed the need to exempt the small business from taxes. On April 27, Economy Minister Artsvik Minasyan said that Armenia was considering a 
possible ban on import of Turkish commodities and that the Ministry was conducting the relevant surveys.      

To note, in 2015 the trade turnover between Armenia and Turkey dropped from 233.8 mln to 138.5 mln USD (by over 40%).


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000