Tweet
EEU MEMBERSHIP NOT TO AFFECT ARMENIA'S MANUFACTURING - MINISTER OF ECONOMY
YEREVAN, October 16./ARKA/. Armenia's membership in the Eurasian
Economic Union (EEU) will not have a negative impact on domestic
production, minister of economy Karen Chshmarityan told reporters
on Wednesday.
On October 10, Armenia joined the EEU treaty that will come into
effect on January 1, 2015.
According to the minister, EEU membership will not cause a decline in
production as Armenia had free trade and free capital turnover with
the EEU-member countries before, along with some restrictions. Now
all the procedures will be simplified, the minister said.
In particular, VAT will not be paid at the border anymore, documenting
procedures will become simpler and there will be free cross-border
movement of goods. All this opens up wide opportunities for sales,
Chshmarityan said.
The minister said he sees no reason for concerns about local
production.
The only problem may be the need for increasing productivity,
introducing innovative technologies to boost production output,
he said.
"Armenia has a manufacturing potential. In particular, exports were
seen diversified this year, with other countries having accounted
for over 40% in overall exports, which is an almost 6% growth",
Chshmarityan said. This indicates expansion into new markets,
increase of production and better quality of products, according to
the minister.
The minister emphasized Armenia maintains its free trade with other
countries, Georgia, Ukraine and Moldova in particular. -0--
http://arka.am/en/news/economy/eeu_membership_not_to_affect_armenia_s_manufacturi ng_minister_of_economy/#sthash.bMcGEr6v.dpuf
From: Baghdasarian
YEREVAN, October 16./ARKA/. Armenia's membership in the Eurasian
Economic Union (EEU) will not have a negative impact on domestic
production, minister of economy Karen Chshmarityan told reporters
on Wednesday.
On October 10, Armenia joined the EEU treaty that will come into
effect on January 1, 2015.
According to the minister, EEU membership will not cause a decline in
production as Armenia had free trade and free capital turnover with
the EEU-member countries before, along with some restrictions. Now
all the procedures will be simplified, the minister said.
In particular, VAT will not be paid at the border anymore, documenting
procedures will become simpler and there will be free cross-border
movement of goods. All this opens up wide opportunities for sales,
Chshmarityan said.
The minister said he sees no reason for concerns about local
production.
The only problem may be the need for increasing productivity,
introducing innovative technologies to boost production output,
he said.
"Armenia has a manufacturing potential. In particular, exports were
seen diversified this year, with other countries having accounted
for over 40% in overall exports, which is an almost 6% growth",
Chshmarityan said. This indicates expansion into new markets,
increase of production and better quality of products, according to
the minister.
The minister emphasized Armenia maintains its free trade with other
countries, Georgia, Ukraine and Moldova in particular. -0--
http://arka.am/en/news/economy/eeu_membership_not_to_affect_armenia_s_manufacturi ng_minister_of_economy/#sthash.bMcGEr6v.dpuf
From: Baghdasarian