Armenia`s textile industry records growth  

ArmInfo.Armenia's textile exports exceeded $200mln, Armenia's Deputy Minister of Economy Rafael Gevorgyan said in an interview with the Public TV of Armenia.

The share of textile exports in Armenia's exports increased from 0.9%  up to 6% during ten years, with around 9,000 people employed in the  textile industry.  

"After being disconnected from the GSP+ system we expected problems  in our textile industry. However, our visits to enterprises showed us  the industry is actively developing and is rather competitive," he  said. 

The government intends to render further assistance to Armenia's  textile industry. Mr Gevorgyan pointed out the light industry  strategy the Ministry of Economy developed and started implementing  in the textile industry. He announced the intention to form a light  industry department at the Ministry of Economy. 

The RA Statistical Committee reported a 2.1-fold growth in Armenia's  textile industry last year - up to AMD 1.9bln ($3.7mln) against a  31.6% decline the previous year. 

This January, the RA Ministry of Economy, with the sponsorship of the  Good Governance Fund (UK), EBRD and Business Support Office, launched  a programme of assistance to Armenia's textile industry. The  programme is aimed at development of a stable textile industry, which  is one of Armenia's strategic economic priorities. 

Under the programme, the added value of the Armenian textiles could  be raised to improve their competitiveness as the GSP+ does not any  more apply to them. 

The German Economic Team company, which is specializing in economic  reforms in Eastern Europe and Central Asia, forecast losses in  Armenia as a result of its exclusion from the GSP+. 

The company forecast a 20% reduction (about $114mln) in Armenia's  exports to the EU.