Thursday, October 20 2016 18:50
Alina Hovhannisyan

EU ready to assist Armenia in implementation of reforms within economic policy of new government, Piotr Switalski says

EU ready to assist Armenia in implementation of reforms within economic policy of new government, Piotr Switalski says

ArmInfo. The Head of the European Union Delegation to Armenia, Ambassador Piotr Switalski expressed readiness to assist Armenia in implementation of reforms within economic policy chosen by the new government, he stated about this at the International Economic Congress today. During the Congress experts and representatives of the diplomatic missions discussed factors hindering development of Armenia's economy.

He noted that the strategy of the new government envisages introduction of European culture in the process of management and is aimed at improving business climate, which is totally in line with the EU principles.  In this context Switalski noted that special attention should be paid to survey of SME sector and investment climate. 60-70% of entrepreneurs in Germany are involved in SMEs, the same relates to SMEs share in GDP. Armenia by this indicator (30%) yields not only to Ukraine and Moldova but even to Georgia and Belarus, he stated.

Touching upon improvement of investment climate the Head of EU Delegation to Armenia noted that activities are needed aimed at overcoming obstacles, particularly the situation in NKR, which negatively affects attraction of investments in Armenia's economy. In reality Armenia's investment potential is much bigger that the current figures demonstrate, Switalski stated.

Referring to the results of the surveys conduced by the European Business Association (EBA) Switalski underlined the issues, which should be first and foremost discussed for solving the given tasks, particularly tax and customs legislations, fight against monopolies, transparency in state procurement procedures and independence of juridical system. In this light Switalski informed that EBA has developed a memorandum on cooperation, which will be soon signed with the representatives of 14 business associations of Armenia.

To recall, in recent interview to ArmInfo Piotr Switalski noted that 2016 will be a record year in terms of EU's financial assistance to Armenia, which usually totals around 50 mln EUR, but this year this amount may be doubled. This is an important year for defining medium-term and long-term perspectives, he stressed. EU plans to invest 1 mln EUR to SMEs this year.

According to the National Statistical Service of Armenia in H1 2016 net outflow of investments from Armenia to EU countries totaled 5.2 bln drams, while net inflow of FDI-2.6 bln drams. Trade turnover between Armenia and EU in Jan-Aug 2016 reached $762.5mln, with 0.4% y-o-y growth. Export totaled $307.6mln, with 13.8% y-o-y growth, amid drop of import by 7% to $454.8 mln.

POST A COMMENT
Input digits     


News
“The Power of One Dram” and the “Hayordi” camp - for Artsakh“The Power of One Dram” and the “Hayordi” camp - for Artsakh
We will act based on our interests in energy sector - Member of  ruling party on demands to close Armenian NPPWe will act based on our interests in energy sector - Member of  ruling party on demands to close Armenian NPP
Ardshinbank has received STP Award for outstanding achievements in payment quality  Ardshinbank has received STP Award for outstanding achievements in payment quality  
Expert: Mothballing of ANPP can seriously affect Armenia`s energy  security and national security as a whole Expert: Mothballing of ANPP can seriously affect Armenia`s energy  security and national security as a whole 
Expert on situation in Upper Lars: after brandy, it will be the turn  of wineExpert on situation in Upper Lars: after brandy, it will be the turn  of wine
“Compatriot”: a privileged package of services from IDBank for the Armenians of Artsakh“Compatriot”: a privileged package of services from IDBank for the Armenians of Artsakh
Banks of Armenia, in cooperation with Government and CBA, to offer  individual and general solutions to forcibly displaced people from  Artsakh - Central BankBanks of Armenia, in cooperation with Government and CBA, to offer  individual and general solutions to forcibly displaced people from  Artsakh - Central Bank
Armenia`s international reserves reached new historical maximum -  $4.219 billion by SeptArmenia`s international reserves reached new historical maximum -  $4.219 billion by Sept
EBRD forecasts highest GDP growth in Armenia in Caucasus EBRD forecasts highest GDP growth in Armenia in Caucasus 
Armenia joins IAEA Board of GovernorsArmenia joins IAEA Board of Governors
Iranian government interested in developing financial, economic  cooperation with Armenia Iranian government interested in developing financial, economic  cooperation with Armenia 
Armenia to provide highest GDP growth of 6.5% in Eastern Europe and  Caucasus region in 2023 - EBRD forecastsArmenia to provide highest GDP growth of 6.5% in Eastern Europe and  Caucasus region in 2023 - EBRD forecasts
State Revenue Committee to establish control in real estate rental  marketState Revenue Committee to establish control in real estate rental  market
Government discusses macroeconomic and budgetary framework of draft  state budget for 2024Government discusses macroeconomic and budgetary framework of draft  state budget for 2024
Team Telecom Armenia to provide free connection and Internet to  forcibly displaced persons from ArtsakhTeam Telecom Armenia to provide free connection and Internet to  forcibly displaced persons from Artsakh
Armenia to sign an additional agreement with EDB on financing E-Labor  Exchange programmeArmenia to sign an additional agreement with EDB on financing E-Labor  Exchange programme
As of September 20, 2023, state treasury of Armenia received 14.5%  more taxes than during  same period in 2022As of September 20, 2023, state treasury of Armenia received 14.5%  more taxes than during  same period in 2022
Armenia, UAE to soon sign several agreements in various fields,  Kerobyan told journalists Armenia, UAE to soon sign several agreements in various fields,  Kerobyan told journalists 
Armenia, UAE sign 3 memorandums of understandingArmenia, UAE sign 3 memorandums of understanding
In Armenia`s insurance market, loss ratio for CMPTL began to grow  slowlyIn Armenia`s insurance market, loss ratio for CMPTL began to grow  slowly
Ministry of Economy of Armenia establishes working relations with  German BVMWMinistry of Economy of Armenia establishes working relations with  German BVMW
Armenia`s national debt $11.4bln Armenia`s national debt $11.4bln 
Government of Armenia approves Program for extending operational life  of Unit 2 at Metsamor NPPGovernment of Armenia approves Program for extending operational life  of Unit 2 at Metsamor NPP
Deputy Finance Minister of Armenia, WB Regional Director for South  Caucasus discuss current cooperation issuesDeputy Finance Minister of Armenia, WB Regional Director for South  Caucasus discuss current cooperation issues
Yerevan hosting first Armenian-Korean business forum Yerevan hosting first Armenian-Korean business forum 
Armenian-Iraqi Intergovernmental joint commission`s 3rd meeting in  Baghdad concluded with signing of protocolArmenian-Iraqi Intergovernmental joint commission`s 3rd meeting in  Baghdad concluded with signing of protocol
CBA, IMF discuss introduction of new approaches to monetary policyCBA, IMF discuss introduction of new approaches to monetary policy
Solar photovoltaic floating station opened on Lake YerevanSolar photovoltaic floating station opened on Lake Yerevan
IFC`s cooperation with private sector of Armenia is important from  perspective of implementing  best standards - Deputy Prime MinisterIFC`s cooperation with private sector of Armenia is important from  perspective of implementing  best standards - Deputy Prime Minister
Tech Week to be held in Vanadzor this yearTech Week to be held in Vanadzor this year
Armenian delegation participates in 4th BRITACOFArmenian delegation participates in 4th BRITACOF
Armenian Economy Minister met with Iraqi PresidentArmenian Economy Minister met with Iraqi President
Martin Galstyan: deflationary impact from external sector on Armenian  economy will continueMartin Galstyan: deflationary impact from external sector on Armenian  economy will continue
Martin Galstyan: Inflation risks are more manageable todayMartin Galstyan: Inflation risks are more manageable today
Vahe Davtyan: Middle East Corridor pushes back prospect of launching  so-called Zangezur Corridor even moreVahe Davtyan: Middle East Corridor pushes back prospect of launching  so-called Zangezur Corridor even more
Central Bank Governor: As risk environment softens, interest rates  will declineCentral Bank Governor: As risk environment softens, interest rates  will decline
CBA improves its 2023 forecast for Armenia`s GDP growth from previous  6.9% to updated 7.2%CBA improves its 2023 forecast for Armenia`s GDP growth from previous  6.9% to updated 7.2%
Central Bank of Armenia reduces refinancing rate this time more  noticeably - from 10.25% to 9.75%Central Bank of Armenia reduces refinancing rate this time more  noticeably - from 10.25% to 9.75%
Armenia, Iran to intensify cooperation in tax and customs areas - SRCArmenia, Iran to intensify cooperation in tax and customs areas - SRC
Expert: Armenia`s status as electricity exporting country may  decrease significantlyExpert: Armenia`s status as electricity exporting country may  decrease significantly
Deflation in Armenia is very insignificant due to moderate decrease  in food prices and increase in service prices Deflation in Armenia is very insignificant due to moderate decrease  in food prices and increase in service prices 
Your business - our solutions: SoftPOS application from IDBank - your sales toolYour business - our solutions: SoftPOS application from IDBank - your sales tool
Vahan Kerobyan: The first 3 tourism clusters in Armenia will be  established in Areni, Gyumri and DilijanVahan Kerobyan: The first 3 tourism clusters in Armenia will be  established in Areni, Gyumri and Dilijan
IDBank completes placement of next tranche of $5 million bonds ahead  of scheduleIDBank completes placement of next tranche of $5 million bonds ahead  of schedule
Economist Konstantin Tserazov: “Dividend stories will remain in focus”Economist Konstantin Tserazov: “Dividend stories will remain in focus”
In Armenia, private companies and organizations to be involved in  workforce training and further hiringIn Armenia, private companies and organizations to be involved in  workforce training and further hiring
Armenian-Emirati Business Forum to be held in Yerevan in coming days  - MFAArmenian-Emirati Business Forum to be held in Yerevan in coming days  - MFA
Vahan Kerobyan on situation with Wildberries: We are studying  situation to understand whether there are violations that impinge on  competitionVahan Kerobyan on situation with Wildberries: We are studying  situation to understand whether there are violations that impinge on  competition
Armenia`s national debt rising Armenia`s national debt rising 
Armenia`s minister of economy hosts WB delegation Armenia`s minister of economy hosts WB delegation 
Asphalt laying on Tranche-3 road section of North-South transport  corridor to be completed by end of 2023Asphalt laying on Tranche-3 road section of North-South transport  corridor to be completed by end of 2023
Economy Ministry sees need to extend state subsidies for  Novorossiysk-Batumi-Novorossiysk ferry serviceEconomy Ministry sees need to extend state subsidies for  Novorossiysk-Batumi-Novorossiysk ferry service
Amid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad AzourAmid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad Azour
Idram is for all: commercial director Grigori YolyanIdram is for all: commercial director Grigori Yolyan
EBRD and EU sign first loan under EFSD+ Financial Inclusion Programme  with Acba bank EBRD and EU sign first loan under EFSD+ Financial Inclusion Programme  with Acba bank 
AMD 3,500,572 to the “SOS Children’s Villages” Armenian Charity Foundation AMD 3,500,572 to the “SOS Children’s Villages” Armenian Charity Foundation 
EBRD Annual Meeting to be held in Yerevan next yearEBRD Annual Meeting to be held in Yerevan next year
Growth of economic activity in Armenia is still double-digit, but  already with deceleration tendenciesGrowth of economic activity in Armenia is still double-digit, but  already with deceleration tendencies
Nicholas Schermers: There are serious prerequisites for expanding  Armenian-Dutch cooperation in high- techNicholas Schermers: There are serious prerequisites for expanding  Armenian-Dutch cooperation in high- tech
FLYONE ARMENIA airline congratulates its 1,000,000th passenger FLYONE ARMENIA airline congratulates its 1,000,000th passenger 
Read more


Exchange rates
03.10.2023
RUB4.170.10
USD413.4511.24
EUR433.099.24
GBP498.549.57
CAD301.305.71
JPY27.590.73
CNY57.591.57
CHF448.047.99