Economy

Armenian businessmen are being prepared for free trade with EC

YEREVAN, November 13. /ARKA/. Seminar for Armenian businessmen on the changes of trade regime between Armenia and European Union within the program “East Partnership” took place on Friday in Yerevan.

The seminar “Proposed trade frames with EU” was organized jointly with Armenian-European consulting center of economic policy and right (AEPLAC), Ministry of Economy of Armenia and group of EU consultants.

 Businessmen, members of the Union of Manufacturers and Entrepreneurs, Association of Businessmen and Union of Exporters participated in the seminar. “The subject of the seminar was current and future trade regime with European Union. Future trade relations between Armenia and EU is a deep and global free trade regime”, said Aleksey Sekaryov, Head of AEPLAC to the journalists.

He said that this process will take five years and the goal of this event is to prepare Armenian businessmen for it. “We should know what is trade regime, get introduced to technical norms and standards of EU for exporting our products”, said Sekaryov.

This preparation is organized beforehand because Armenian businessmen have rather narrow horizon of planning, they have to learn about higher level of trade regime and cooperate with EU.

They have to learn about it now for including it into new cycle of planning. It is necessary to increase quality of control and implement reforms in the sphere of protection of intellectual ownership, standardization, sanitary and fito-sanitary control in Armenia.

Mushegh Tumasyan, Deputy Minister of Armenia mentioned that the goal of the Government of Armenia is to increase export of Armenian products to EU countries. ”Our goal is to promote export to EU countries.

It is rather difficult process which is conditioned by the quality of the product and certain entrepreneurial skills”, said Tumasyan. “Europe greatly supports Armenia and it is important that civil society organizations and the society know that there is progress and the life is improving”, said Uffe Holst Yensen, Head of Department of European Support delegation of EU in Armenia.

EU market is the largest in the world and the program “East partnership” initiated by EU gives opportunity to participant-countries to enter European market. “East partnership” is Polish-Sweden initiative in the frames of neighborhood policy targeted at the improvement of relations of EU with post-soviet countries. The program should involve neighbor-countries of EU – Azerbaijan, Armenia, Georgia, Moldova, Ukraine and Belarus.-0-

13/11/2009 19:02



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 15/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 394.48 1.86
Euro EUR 1 540.91 0.9
Russian Rоublе RUR 1 13.44 0.04

Favorable еxchange rates of banks 15/03/2010
Currency Buy Sell
USD 394
ArmBusinessBank
396
Ameriabank
Ardshininvestbank
Areximbank-Gazprombank Group
“ArmSwissBank”
Euro 540
“ArmSwissBank”
546
Ameriabank
RUR 13.35
BTA Bank
13.5
ACBA-CREDIT AGRICOLE BANK
Ameriabank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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