Armenia`s Economy Ministry intends to substitute certain Turkish goods within import substitution policy

ArmInfo. Armenia's Economy Ministry has introduced a bill on amending Law "On State Duties". If adopted the amendment may significantly impact the policy of import substitution, acting Economy Minister of Armenia Artsvik Minasyan informed today at the meeting with journalists.

According to him the Ministry of Economy within import substitution policy proposes to take restricting measures on export of raw cattle hides. Minasyan mentioned that the initiative may create a real opportunity for development of light industry, particularly production of shoes and leather.

Issues related to implementation of non-tariff restrictions policy on import of goods from other countries, particularly from Turkey, are being studied. As a result of discussions a document should be drafted including the list of goods that can be supplied by local producers.

According to the data of Armenia's Economy Ministry as of today around 700 items of goods are imported to Armenia from Turkey. On the first stage 50 items were chosen from that list, which are not raw material or socially sensitive goods and the analogs of which are produced in Armenia. The Ministry has already held discussions with stakeholders on these 50 items. As Artsvik Minasyan was stating earlier, he considers applying direct ban and tariff policy measures inefficient, as according to him in that case the same goods will be exported to the market of EEU countries and will be imported to Armenia without additional customs duty.

To recall, earlier a group of young people held a protest in front of the government's building calling to ban import of Turkish products to Armenia.