ArmInfo. Armenia implements intellectual property development strategy. Deputy Minister of Economy of Armenia Rafael Gevorgyan announced this on the sidelines of the consultation on the development of the franchising market in Armenia, initiated by the US Department of Commerce and the Ministry of Economy of Armenia.
The Deputy Minister said that the development of the strategy is carried out with the assistance of the World Intellectual Property Organization. "And as a result of coordinated actions, reforming the institutional capacity of the Ministry of Economy, the Office of Intellectual Property, other infrastructures and the legal sectors, we will achieve the desired results," he said.
Noting that intellectual property is a part of commercial law, Gevorgyan said that, together with specialists from the US Department of Commerce, within the framework of the Commercial Law Development Program (CLDP), a study of franchising in Armenia is being carried out at this stage in order to identify problems and assess market opportunities. In addition, CLDP organizes special courses for those interested in franchising. The Deputy Minister stressed that the development of franchising is one of the priorities of the country's economic policy. In this regard, he recalled that the Ministry of Economy aims to increase the share of SMEs in the structure of GDP, which can be greatly facilitated by the development of franchising. Noting that franchising will help introduce new technologies, the best international experience, knowledge, and innovations to Armenia, Gevorgyan said that this will also help increase the productivity of the economy. "We will stimulate the inflow of foreign investment with this step. We have investments, but the volumes are not satisfactory. And we have a goal - to have an economy based on investment", he said.
In a conversation with journalists, Attorney-Advisor of the Commercial Law Development Program (CLDP) in the Office of the General Counsel of the U.S. Department of Commerce Mais Abousy noted that in cooperation with the Ministry of Economy of Armenia, the first goal is to identify problems that prevent new brands from entering the Armenian market and find solutions. According to the expert, as a result of the implementation of the program in Armenia, economic progress will be registered in the country, numerous jobs will be opened, the management sector, the labor market will improve, it will be possible to attract foreign investment, etc. Speaking about the results, Abousy noted that this is a long-term process, and overnight changes should not be expected. According to her, achievements will be registered as a result of consistent long-term work.
Established in 1992, CLDP is a division of the U.S. Department of Commerce that helps achieve U.S. foreign policy goals in developing and post-conflict countries through commercial legal reforms. CLDP's unique, government-to-government technical assistance draws upon highly-experienced regulators, judges, policymakers, business leaders and attorneys from both the public and private sectors to deliver results that make meaningful and lasting changes to the legal and business environments of our host countries.
