ArmInfo.Armenia's businesses will be exempted from customs duties in exporting products to the amount of up to AMD 1mln (about $2,000).
The Standing Committee on Economic Affairs, RA Parliament, discussed a relevant legislation on Wednesday.
Armenia's Minister of Economy Vahan Kerobyan explained that the benefit will be applied to the export of goods with a customs value of up to Euro 200.
The working title of the project is Volterman, as it is the Volterman smart wallet company that made this proposal.
"This company and many others selling their products by means of Internet and exporting products from Armenia face the problem of customs duties even if their exports are small. And in some cases, the customs duties exceed the value of the exported products and the procedure takes much time," the minister said.
Last year, Armenia's foreign trade recorded a 17.7% growth. Exports recorded a 19.1% growth, with imports showing a 16.9% growth.
