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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    13:28 ~U 04.02.10

    A ruling released by the Armenian government today permits HayPost,
    the company responsible for postal services in Armenia, to deliver
    brokering customs services to its customers.

    RA Minister of Transport and Communication Gurgen Arsenyan told
    journalists at a press conference that until today, citizens who
    received parcels had to make the customs clearance themselves which
    required a lot of time.

    So it will facilitate the process of receiving parcels as the customs
    clearance will be done on the spot.

    Arsenyan mentioned that in 2009, for the first time in its history,
    HayPost closed the year with a profit - 1.2 million AMD. Last year,
    the company repaired 30 post office branches, with 50 more to be
    repaired this year.

    HayPost is currently given to the Dutch HayPost Trust Management
    company for concessional governance. Argentinian-Armenian businessman
    Eduardo Ernekyan is a stakeholder of Dutch HayPost Trust Management.
    Hayastan or Bust.


    • Re: Armenia's Economic Pulse

      For a long time i have been argueing that opening the border will not hurt armenias economy and will help it instead and here is more proof.


      World Markets Research Center
      Global Insight
      February 3, 2010

      BYLINE: Grace Annan

      The Armenian Chamber of Commerce has issued surprisingly high
      figures on the trade volume between Armenia and Turkey in 2009. The
      volume reached US$300 million, US$200 million higher than what the
      Turkish-Armenian Business Development Council (TABDC) had expected, and
      still US$100 million above World Bank estimates. On the Turkish side,
      this volume was particularly fuelled by activities of businessmen
      from Eastern and South-Eastern Anatolia, according to the co-chair
      of the TABDC, Kaan Soyak. The figures were not confirmed by either
      country's government officials, as they do not officially record
      bilateral trade volumes between Armenia and Turkey, due to the
      still-difficult relations between the two countries.

      Significance:Turko-Armenian trade volume is seemingly going the
      opposite way to Turko-Armenian diplomatic ties. Although the latter
      was hailed as having a potential to soar over the coming years,
      paving the way for more business ties, it seems like business,
      rather than politics, will facilitate the initial dialogue between
      Armenians and Turks on medium and lower levels (seeTurkey - Armenia:
      12 October 2009. Arguably, the economic crisis in both countries
      may have something to do with the increased interest in forging ties,
      but this should not lower the surprising achievement. Yet the stalemate
      is a predominantly socio-political one, and it will continue to hamper
      business ties between the two countries until it is fully resolved.
      Hayastan or Bust.


      • Re: Armenia's Economic Pulse


        Feb 5 2010

        "Armenia-Turkey border's opening will intensify living in
        Armenian-populated Georgia's region of Javakheti," said Parliament's
        Deputy and leader of the non-governmental "Georgia-born Armenians'
        Union", Hyke Sanosian.

        He said that the border's opening will reinvigorate social and
        economical spheres of Javakheti as it is taken into account the
        certain development of Turkey-Georgia relations.

        When asked whether Yerevan-Batumi highway's construction works may
        be frozen in connection with 'cool Armenia-Georgia relations', Hyke
        Sanosian said it was false.

        "The Yerevan-Batumi highway's construction works are starting this
        year and will be completed by 2017," he said.
        Hayastan or Bust.


        • Re: Armenia's Economic Pulse


          Feb 9, 2010

          Tehran, Feb 9, IRNA - The establishment of Iran-Armenia trade center
          will pave the way for exchange of goods and services between both

          Announcing this, deputy minister of commerce, Babak Afqahi told
          the International Conference to Introduce Trade and Investment
          Opportunities in Armenia Tuesday that the center will help boost
          exchanges between the two countries.

          Stating that trade exchanges worth $200 million between the two
          countries in 2008 is not acceptable, he further noted that the figure
          is meager compared to the volume of exchanges with other neighboring

          One of the strategies of Iran is to increase its economic exchanges
          with its neighbors, Afqahi, who also doubles as the head of Iran's
          Trade Development Center said, noting that's for the same reason that
          Armenia is of significant priority for Iran in this respect.

          He also expressed Iranian companies' readiness to open a new era of
          cooperation with that country.

          Iran is prepared to make available different technologies to that
          country, he noted..

          International Conference to Introduce Trade and Investment
          Opportunities in Armenia is to end in Islamic Republic of Iran
          Broadcasting's (IRIB) Conferences Hall on Wednesday.

          Hayastan or Bust.


          • Re: Armenia's Economic Pulse

            Armenian Workers Fired After Fresh Strike

            A Canadian-owned mining company has controversially laid off more than 50 of its employees after the latest strike at its ore-processing plant located in the southeastern town of Kapan.


            Those Canadians... we thought ''Western'' nations were civilized compared to Russians


            • Re: Armenia's Economic Pulse

              Opposition Bloc Unveils New Economic Manifesto

              The main opposition Armenian National Congress (HAK) unveiled on Tuesday a detailed plan of actions which it said are necessary for a “radical transformation” of Armenia’s flawed economic system.

              The 15-page program was developed by a team of economists led by former Prime Minister Hrant Bagratian. It lists 100 policy measures which the HAK believes would end the monopolization of key sectors of the Armenian economy, improve the country’s business environment and ensure a more equitable distribution of wealth among its citizens.

              The opposition bloc led by former President Levon Ter-Petrosian specifically wants to shift the main tax burden from small and medium-sized enterprises to a handful of government-linked “oligarchs” whom it accused of “strangling free enterprise” in the country. This would be done through the introduction of a progressive income tax scale as well as sharp increases in other taxes paid by the wealthiest Armenians.

              The program also calls for a substantial toughening of Armenia’s anti-trust legislation and a strict separation of business and politics. It says these measures would put an end to “the extreme concentration of the country’s economic resources in the hands of a few oligarchs and their families.”

              Armenia would also be able to quickly double the volume of its state budget, according to the program. It says that would in turn allow for sharp increases in pensions and public sector salaries as well as government spending on education and public services.

              “These authorities cater for the oligarchy and are simply unable to implement this program,” the HAK’s central office coordinator, Levon Zurabian, said, presenting the program at a news conference. He said the bloc would itself take such measures if it succeeds in toppling the government.

              Zurabian claimed that the HAK is getting ready for snap national elections in view of what he called continuing government “failures.” “If the failures continue at this pace, power will simply fall on our head, and we must be prepared for that,” he said.

              Azerbaboon: 9.000 Google hits and counting!


              • Re: Armenia's Economic Pulse


                Noyan Tapan
                March 9, 2010

                YEREVAN, MARCH 9, NOYAN TAPAN. During the March 9 meeting with the
                Armenian Prime Minister Tigran Sargsyan, the members of the Council
                of the National Union of Farmers spoke about their problems related
                to agricultural development, in particular the current problems in
                poultry farming, potato and vegetable growing, sheep breeding and
                beekeeping. Priority was given to expansion of the opportunities to
                export agricultural products, improvement of the legislative field,
                and elaboration of a model of long-term development of agriculture.

                The RA Government Information and PR Department reports that
                T. Sargsyan gave instructions to the minister of agriculture regarding
                solution of the indicated problems. He assigned the ministry of
                agriculture to establish jointly with the National Union of Farmers
                an enterprise to deal with export and import problems. The prime
                minister attached importance to the development of an efficient
                model of cooperation, saying that he would personally control the
                implementation of joint projects.
                Hayastan or Bust.


                • Re: Armenia's Economic Pulse

                  At least one thing's going right with our NX.
                  Aluminum foil gives Armenia boost in trade with U.S.

                  Washington - Despite a sharp economic downturn last year Armenia registered a slight surplus in its trade with the United States for the first time since records began to be kept in 1992.

                  According to figures published by the U.S. Census Bureau, reduction in U.S. exports to Armenia and concurrent U.S. imports of more than $62 million worth of aluminum foil - produced at Armenal, the Kanaker-based aluminum plant owned by Russia's Rusal holding - were key to generating the unprecedented outcome.

                  Last December, Armenal reportedly doubling of its output in 2009 to 20,000 metric tons of foil, following a Rusal-introduced modernization of the Soviet-era mill.

                  Overall, Armenia exported $77.6 million worth of products to U.S. while importing slightly less - $77.5 million.

                  Armenia's other export categories were substantially more modest, including $1.4 million worth of tobacco products, $1.1 million - of xxxelry, with brandy, non-alcoholic beverages and chloroprene rubber (from Yerevan's Nairit plant) accounting for between half a million to less than a million U.S. dollars each.

                  In 2002-8 Armenia's exports to U.S. stood at between $30 to $50 million, with U.S. exports to Armenia normally amounting to between $100 and $150 million.

                  Azerbaboon: 9.000 Google hits and counting!


                  • Re: Armenia's Economic Pulse

                    The rise in exports is great but the decline in imports could mean a number of different things.
                    Hayastan or Bust.


                    • Re: Armenia's Economic Pulse

                      Originally posted by Haykakan View Post
                      The rise in exports is great but the decline in imports could mean a number of different things.
                      Hopefully it's self-sufficiency.
                      Azerbaboon: 9.000 Google hits and counting!