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ARMENIA LOOKS TO TRIPLE COGNAC EXPORTS IN MONETARY TERMS BY 2020
Interfax
Dec 5 2011
Russia
Armenia plans to increase cognac exports monetary terms to $150-$180
million in 2015 and to $250-$300 million in 2020, from $95.2 million
in 2010, Economy Minister Tigran Davtyan said Sunday at a Republican
Party of Armenia seminar at which was discussed export-oriented policy
in the sphere of industry.
Davtyan said that with this program cognac production in monetary terms
would reach $160-$195 million in 2015 and $270-$320 million in 2020
compared with $107.3 million in 2010. Investment in the development
of cognac production will be 2.1 billion dram ($5.5 million at the
current exchange rate) in 2012-2015, including 807.5 million dram
($2.12 million) from government coffers.
For the development of exports, plans call for the movement of excised
goods through Verkhny Lars, and a decision on this is expected before
year-end. Opening it will reduce transportation costs by $1,500.
Russia and other Commonwealth of Independent States countries are
Armenia's main export markets, with Russia accounting for 80% of the
cognac exported last year.
The program involves cutting the proportion of cognac exported to
Russia by to 70% by 2015 and to 65% by 2020. The implementation of
the program's first phase involves exporting 5%-7% of the cognac to
China by 2015 and to 8%-10% by 2020. In the second phase, the plan is
to enter the markets of Southeast Asia, the United States, Germany,
and Eastern Europe.
The program includes setting up trade offices in other countries.
Armenia produced 27.9% more cognac last year than in 2009 - 12.6
million liters. Exports of the product rose 22% to 11 million liters
from 9 million in 2009.
The official exchange rate for December 5: 381.22 dram/$1.
From: Emil Lazarian | Ararat NewsPress
Interfax
Dec 5 2011
Russia
Armenia plans to increase cognac exports monetary terms to $150-$180
million in 2015 and to $250-$300 million in 2020, from $95.2 million
in 2010, Economy Minister Tigran Davtyan said Sunday at a Republican
Party of Armenia seminar at which was discussed export-oriented policy
in the sphere of industry.
Davtyan said that with this program cognac production in monetary terms
would reach $160-$195 million in 2015 and $270-$320 million in 2020
compared with $107.3 million in 2010. Investment in the development
of cognac production will be 2.1 billion dram ($5.5 million at the
current exchange rate) in 2012-2015, including 807.5 million dram
($2.12 million) from government coffers.
For the development of exports, plans call for the movement of excised
goods through Verkhny Lars, and a decision on this is expected before
year-end. Opening it will reduce transportation costs by $1,500.
Russia and other Commonwealth of Independent States countries are
Armenia's main export markets, with Russia accounting for 80% of the
cognac exported last year.
The program involves cutting the proportion of cognac exported to
Russia by to 70% by 2015 and to 65% by 2020. The implementation of
the program's first phase involves exporting 5%-7% of the cognac to
China by 2015 and to 8%-10% by 2020. In the second phase, the plan is
to enter the markets of Southeast Asia, the United States, Germany,
and Eastern Europe.
The program includes setting up trade offices in other countries.
Armenia produced 27.9% more cognac last year than in 2009 - 12.6
million liters. Exports of the product rose 22% to 11 million liters
from 9 million in 2009.
The official exchange rate for December 5: 381.22 dram/$1.
From: Emil Lazarian | Ararat NewsPress