Armenia Has Comparative Advantages in Light Industry Sphere

YEREVAN, JUNE 20, ARMENPRESS:

Now Armenia endeavors to increase its role in the international arena in the sphere of light industry and tends to restore the production volume it had in the Soviet Union, Minister of Economy Tigran Davtyan said today at a news conference.

He said the enterprises operating in the sphere started to increase their production volume and a number of new enterprises opened. "We should do our best to seek such parts in the world market where we can be competitive. Here the state plays a great role, as first of all the Government should ensure nearly ideal conditions for local manufacturers," Tigran Davtyan said. He added that the works in this direction are under way. Steps are being undertaken for the improvement of the business environment, exportation procedure, facilitation of the investment sphere, provision of tax privileges.

The minister says Armenia has comparative advantages in the sphere of light industry. "We have some good trade regimes. The main markets of realization are Europe, CIS and USA. Many countries, which are our rivals in the international arena, do not have favorable trade regimes. This is another opportunity to involve foreign companies in the Armenian economy," Tigran Davtyan said.