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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    "The wording is a little confusing. The article is discussing how Quarterly GDP Growth in Q1 2014 in expected to be 2.4% this year compared to 7.5% last year."
    GDP levels in any particular year do not mean much. What does mean a lot is what the GDP of a nation looks like over time(many years). This is where many countries go wrong by focusing on the short run vs the long run.
    Hayastan or Bust.

    Comment


    • Re: Armenia's Economic Pulse

      ARMENIA PLANS MAJOR POLITICAL DEAL WITH EU: PRIME MINISTER

      March 21, 2014 - 13:02 AMT

      PanARMENIAN.Net - Armenia plans to ink a major political agreement
      with the European Union, Prime Minister Tigran Sargsyan said during
      the Radio Liberty Armenian Service broadcast.

      As the official noted, "we're working with our European partners
      on a new line of cooperation. We're happy that our European friends
      understand Armenia's stance and the logic of decision-making."

      According to Sargsyan, the new deal will include clauses agreed on
      during previous negotiations.

      As he also noted, in the capacity of the Customs Union member,
      Yerevan will expect cuts in customs duties within 7 years.

      "The European Union Advisory Group to Armenia will terminate its
      activity in late 2014, with the EU continuing assistance to the
      republic in the sectors of close cooperation," As the head of the EU
      delegation to Armenia, Ambassador Traian Hristea said in early 2014.

      The EU Advisory Group was formed in 2008 to assist Armenia in advancing
      the implementation of the European Neighborhood Policy Action Plan.

      As Hristea noted at the sitting of the Advisory Group, the work
      conducted in Armenia was effective, with progress in a number of
      sectors noted.

      National Security Council Secretary Artur Baghdasaryan, in turn,
      welcomed the ongoing cooperation, with a number of reforms and joint
      programs testifying to its success.

      Deputy parliament speaker Eduard Sharmazanov further noted the EU
      to be among Yerevan's key partners, expressing readiness to continue
      democracy-promoting reforms to the benefit of Armenian society.

      He further listed political and legal reforms, the visa facilitation
      and readmission agreements among achievements of the Armenia-EU
      partnership.

      According to the Q4 2013 report, the Advisory Group provided
      consultations on rule of law, migration, democratic governance,
      anti-trafficking, protection of witnesses, introduction of probation
      service in Armenia as well as anti-corruption measures.

      Also, a concept on organization of visits and creation of an
      information center at the National Assembly were accomplished with
      the involvement of the Advisory Group.

      In 2014, the Group will work to implement further reforms and
      strategic programs. Armenia completed technical talks on a 'deep and
      comprehensive free-trade agreement' (DCFTA) with the EU in July 2013
      and it was set to be signed at a summit with the EU in late November.

      In addition to a free-trade deal, Armenia has been working towards
      the signing of an association agreement with the EU, a framework
      agreement on co-operation that is seen as a first step towards
      political integration with the EU.

      During a Sept 3 meeting with Russian President Vladimir Putin,
      Armenian leader Serzh Sargsyan said Armenia is ready to join Customs
      Union, with further plans to be involved in formation of the Eurasian
      Economic Union. Mr. Putin supported the initiative, vowing procedural
      assistance to Armenia.

      A draft resolution on Armenia's accession to the Customs Union and
      unified economic zone was approved at the Minsk-hosted Supreme Eurasian
      Economic Council meeting Dec 24. On Jan 23, Armenian government has
      approved the list of measures for joining the Customs Union.

      "Armenia implemented almost half of the activities envisaged by the
      Customs Union accession roadmap," Prime Minister Tigran Sargsyan
      said earlier.

      http://www.panarmenian.net/eng/news/177102/
      Hayastan or Bust.

      Comment


      • Re: Armenia's Economic Pulse

        lol, like I said......even though we jumped on the CU train doesn't mean we are not still playing the EU game.
        We have always been good playing both sides and the sides understand our predicaments and don't really hold it against us, so negotiations continue.
        B0zkurt Hunter

        Comment


        • Re: Armenia's Economic Pulse

          A summary of the effects of the 2008 global crash on the Armenian economy that reversed much of the astronomical development of the prior years
          http://www.imf.org/external/country/...009/090909.pdf
          <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

          Comment


          • Re: Armenia's Economic Pulse

            AN TO LAUNCH RAILROAD BETWEEN AZERBAIJAN, ARMENIA

            13:01 * 25.03.14

            Iran is said to be mulling plans for launching a transit railroad
            between Azerbaijan and Armenia.

            Akber Turkan, a coordinator for the Iranian Free Zones and Special
            Economic Areas, has described the idea as an opportunity to use the
            regional transit potentials.

            "If the railway opens, development will gain an essential speed in the
            three countries' border areas, as well as in the entire region. The
            Armenian-Azerbaijani war [over Nagorno-Karabakh] has essentially impact
            on the economic development of Jugha. The railroad between Azerbaijan
            and Armenia has serious potentials as a corridor to the Black Sea,
            Russia and Europe," he was quoted as saying.

            Mr Turkan added that the Islamic Republic considers a political
            solution to regional conflicts absolutely possivle. "Smoothing over
            the disagreements between countries will contribute to the entire
            region's development," he said.

            http://www.tert.am/en/news/2014/03/25/iran-azer-arm/
            Hayastan or Bust.

            Comment


            • Re: Armenia's Economic Pulse

              Originally posted by Haykakan View Post
              AN TO LAUNCH RAILROAD BETWEEN AZERBAIJAN, ARMENIA

              13:01 * 25.03.14

              Iran is said to be mulling plans for launching a transit railroad
              between Azerbaijan and Armenia.

              Akber Turkan, a coordinator for the Iranian Free Zones and Special
              Economic Areas, has described the idea as an opportunity to use the
              regional transit potentials.

              "If the railway opens, development will gain an essential speed in the
              three countries' border areas, as well as in the entire region. The
              Armenian-Azerbaijani war [over Nagorno-Karabakh] has essentially impact
              on the economic development of Jugha. The railroad between Azerbaijan
              and Armenia has serious potentials as a corridor to the Black Sea,
              Russia and Europe," he was quoted as saying.

              Mr Turkan added that the Islamic Republic considers a political
              solution to regional conflicts absolutely possivle. "Smoothing over
              the disagreements between countries will contribute to the entire
              region's development," he said.

              http://www.tert.am/en/news/2014/03/25/iran-azer-arm/

              I believe this is talking about the Armenian railroad to Iran, which goes through Nakhichevan, which has been shut down since the war. I highly down baboonestan would go for this.
              <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

              Comment


              • Re: Armenia's Economic Pulse

                GOVERNMENT REAFFIRMS EXTENSION OF SERVICE LIFE OF ARMENIAN NUCLEAR POWER PLANT BY 10 YEARS

                YEREVAN, March 27. / ARKA /. Armenian energy and natural resources
                minister Armen Movsisyan has denied today media reports alleging
                that the government had given up plans to build a new nuclear power
                plant to replace the aging Metsamor facility, but acknowledged that
                the construction of the new plant is being delayed because 'of the
                global economic crisis and some geopolitical developments" which did
                not allow the government to secure sufficient funding for the project.

                In 2012 the Armenian government decided to extend the service life
                of the nuclear power plant in Metsamor by another ten years. Today
                the government has reaffirmed that decision.

                The minister said today that all this in mind the government is
                going to step up all its efforts to improve the safety of the nuclear
                facility. At the same time, according to the minister, the government
                will intensify the work for construction of a new unit.

                The government has instructed today the ministry of finance to take
                all steps necessary for the signing of an intergovernmental loan
                agreement with Russia to raise funds to finance the project

                The Metsamor plant located some 30 kilometers west of Yerevan, was
                built in the 1970s but was closed following a devastating earthquake
                in 1988 that killed some 25,000 people and devastated much of northern
                Armenia.

                One of the plant's two VVER 440-V230 light-water reactors was
                reactivated in 1995.

                Armenian authorities say the new plant is supposed to operate at twice
                the capacity of the Soviet-constructed facility. Metsamor currently
                generates some 40 percent of Armenia's electricity. But the government
                has yet to attract funding for the project that was estimated as much
                as $5 billion.

                After September 3 talks with Armenian president Serhz Sargsyan
                Russian president Vladimir Putin said experts from Russian state
                nuclear company Rosatom and Armenian experts agreed to extend the
                service life of the Armenian nuclear power plant until 2026.

                In February 2013 Armen Movsisyan said the new nuclear power unit is
                planned to be built in 2019-2020. -0-

                - See more at:
                http://arka.am/en/news/economy/gover....iBcrBqL5.dpuf
                Hayastan or Bust.

                Comment


                • Re: Armenia's Economic Pulse

                  Originally posted by Haykakan View Post
                  GOVERNMENT REAFFIRMS EXTENSION OF SERVICE LIFE OF ARMENIAN NUCLEAR POWER PLANT BY 10 YEARS
                  Good news, as far as a temporary solutions go. The recession set our nation back a solid decade, maybe more. I don't think there was nation on earth more hard hit by Armenia. Hopefully the new power plant does indeed get built. If a nation as advanced and high demand as France can get 40% of its complete energy needs from Nuclear, there's no reason a small low demand nation like Armenia couldn't either.
                  <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

                  Comment


                  • Re: Armenia's Economic Pulse

                    ONCE A SOVIET HUB, ARMENIA LOOKS TO REVIVE ITS TECH SECTOR

                    Agence France Presse
                    April 1, 2014 Tuesday 3:37 AM GMT

                    : YEREVAN, April 01 2014

                    Once seen as a silicon valley of the Soviet Union, the tiny Caucasus
                    nation of Armenia is hoping the launch of its first tablet computer and
                    smartphone could kickstart a comeback for the country's tech sector.

                    Designed -- and soon set to be constructed -- in Armenia, the ArmPhone
                    and ArmTab devices are seen as a key steppingstone as the landlocked
                    state seeks to overcome crippling trade blockades from its neighbours
                    to become an unlikely industry hub.

                    "The high-tech sector in Armenia already has a long existence and now
                    we need to take it back to an international level," Vahan Chakarian,
                    president of the joint Armenian-US company Minno behind project,
                    told AFP.

                    "By building an Armenian tablet computer we'll create a brand that will
                    make Armenia more recognisable on the world market," Chakarian said.

                    Compared to major international brands funding and production targets
                    for the start-up are modest. The firm is spending some $6.5 million
                    over its first three years and aims to get manufacturing levels up
                    to some 100,000 items annually.

                    While the devices are designed by Armenian experts, up till now
                    production has been taking place in Hong Kong and the US. But those
                    behind the project hope that will change soon.

                    "We've been spending a lot of funds sending our Armenian specialists to
                    China to conduct quality tests where the tablets were being assembled,"
                    Chakarian said.

                    "Given the engineering capabilities in Armenia we plan in the near
                    future that all the work on the exterior and motherboard design and
                    software implementation will take place exclusively in Armenia."

                    The company already has a contract with Armenia's education ministry to
                    supply all first graders in the country with a tablet computer by 2015.

                    -Strong heritage, unfriendly neighbours-

                    For many the resurgence of the high-tech sector in Armenia comes as
                    no surprise. From computer systems in space ships to the electronics
                    in submarines, Armenia was at the heart of the USSR technology sector.

                    "One third of military electronics was designed and produced in
                    Armenia and there were several hundred thousand specialists worked
                    on developing and manufacturing computer technology," says Karen
                    Vardanyan, executive director at the Union of Information Technology
                    Enterprises in Yerevan.

                    Armenia though faces considerable challenges if it is to compete on
                    the international level.

                    Festering disputes with its two neighbours Turkey and Azerbaijan --
                    including over the disputed territory of Nagorny Karabakh -- mean
                    that much of its borders are sealed off.

                    Those in the IT sector remain bullish about the prospects for
                    development and point to steady growth rates of over 20 percent
                    despite Armenia's flagging overall economic performance.

                    "Our predictions show that by 2018 the IT sphere will become the
                    dominant sector in the country's economy and will bring in around $1
                    billion," said Vardanyan.

                    -Huge intellectual potential-

                    Some 500 tech firms are now working in the country and international
                    giants such as Microsoft have started getting involved.

                    "Our main task today is to maintain the current growth rates, increase
                    the number of specialists and then make sure they have well paid work
                    to stop them being attracted abroad," Vardanyan said.

                    For its part Armenia's government has thrown its weight behind the
                    industry by making it a priority economic sector and pledging that
                    more help is on the way.

                    "At this stage we have accumulated a huge potential for development,
                    but to move forward, we need to think and take new measures to help
                    new companies compete," Prime Minister Tigran Sarkisian said at a
                    recent unveiling ceremony for the ArmTab and ArmPhone.

                    "Now the government is preparing amendments to the legislation that
                    will mitigate tax conditions for Start-up companies," Sarkisian said.

                    Despite the challenges, all this leaves those at the forefront sector
                    optimistic for the future.

                    "In Armenia there is a huge intellectual potential and favourable
                    legislation that can help develop this sphere," says tablet producer
                    Chakharian.

                    "I am sure that in the next three to five years Armenia will become
                    famous for its IT production and the ArmTab and ArmPhone will be the
                    start of this."
                    Hayastan or Bust.

                    Comment


                    • Re: Armenia's Economic Pulse

                      Serzh Sargsyan to pay official visit to Turkmenistan

                      Armenian President Serzh Sargsyan will go on an official visit to Turkmenistan today, the presidential press service reported.

                      Serzh Sargsyan will meet with Turkmen President Gurbanguly Berdimuhamedow, after which the official delegations of the two countries will meet in enlarged format.

                      Bilateral documents on development of cooperation in a number of areas will be signed. The Presidents of Armenia and Turkmenistan will make a joint press statement following their meeting.

                      On April 9, President Serzh Sargsyan will leave for the city of Turkmenbashi where along with Gurbanguly Berdimuhamedow he will attend a concert of Armenian and Turkmen cultural figures.

                      Also, an Armenian-Turkmen business forum will be held in Ashgabat during the days of Serzh Sargsyan’s visit.

                      http://www.panorama.am/en/politics/2.../07/president/
                      __________________________________________________ ___________________________________________
                      Turkmenistan, Armenia plan to sign several bilateral documents
                      http://en.trend.az/regions/casia/tur...n/2259597.html
                      <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

                      Comment

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