ArmInfo.The Ministry of Economy, in cooperation with the European Bank for Reconstruction and Development (EBRD)-supported Investment Council, and the support of the Good Governance Fund program of the UK government, launched the "Identification of the export potential of Armenia and the development of mechanisms to stimulate exports program."
According to Deputy Minister of Economy Rafael Gevorgyan, work on the development of the program started in 2022. He stressed that the program will help to understand the export potential of Armenia, determine directions and activities to stimulate and promote exports.
British Ambassador to Armenia John Gallagher noted that the program will contribute to the development of effective, data-driven policies aimed at reducing logistics costs and increasing competitiveness. Head of Investment Council Hovsep Patvakanyan noted that Armenia has a colossal untapped export potential. According to him, about 30,000 containers are imported annually through the Georgian port of Poti. , he said.
During the discussions, the project's expert group presented an analysis of Armenia's logistics routes, the potential of export-oriented goods produced.
At the next stages of the program, it is planned to develop appropriate state support mechanisms for entrepreneurs who are involved in the field of export, transportation and logistics services.
According to the Statistical Committee, Armenia's foreign trade turnover reached $14.1 billion in 2022, with an increase of 68.6% (from 17.7% in 2021). In particular, an increase in volumes was observed both in exports - by 77.7% to $5.4 billion, and in imports - by 63.5% to $8.8 billion, while in 2021 both of them showed moderate growth - exports by 19.1% and imports by 16.9%.
