Ministry of Finance of Armenia will try to find ways of financial support for import replacement policy implementation

ArmInfo. The Finance Ministry of Armenia will try to find possible ways for financial support for local manufacturer, in the framework of import substitution policy implementation. During a seminar on the subject of "Legislative changes in the procurement system" said the Minister of Finance of Armenia Vardan Aramyan. The Ministry of Finance, with the support of German Academy of International Cooperation (GIZ), organized the seminar.

According to the Minister, the task of the state departments is the understanding of the possible ways of substituting the foreign products with the local ones and if possible provide a successful enter to international market for the local manufacturers. After the suggestions by the appropriate departments are received, the Ministry of Finance will try to find the tools for the support due the available state funds.  On January 12, during the government meeting, the Prime Minister instructed the heads of the Ministries of Economy, Finance, Agriculture, Health and Defense to jointly research and in 20 days term present a suggestion on substituting export goods with the good of local. Particularly the Prime Minister instructed to consider the various mechanisms of substituting the import goods.  Karapetyan called to search the ways of proportioned, economically sound and competitive replacement, by providing demand for local products and its adequate reduction on imported products.