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.
