Armenia exits of crisis with minimum losses

18.01.2010 19:04
Armenia exits of crisis with minimum losses

YEREVAN, January 18. /ARKA/. Arsen Ghazarian, the chairman of the Union of Armenian Industrialists and Entrepreneurs, said Armenia’s case is an example of how the global crisis has strengthened a country’s economy.

In an interview with ARKA news agency he said the country managed to exit of the crisis with minimum losses and prepare soil for vigorous economic recovery in 2010 and 2011.

‘We feared that 2009 would be a very hard and complicated year but we closed it with normal indices and what is more important we did not break our back in none of major sectors. Moreover, the crisis has forced us to improve competition mechanisms, to modernize our technologies and introduce new ones,’ he said.

He said local production has managed to withstand the crisis and has all chances to develop at a higher space. He said Armenia needs to develop economic and industrial growth concepts to secure further growth and make foreign investors realize the priorities of Armenian economy and invest in them.

‘I think the opening of the Armenian-Turkish border will be another test for Armenian businesses, because that would give us an extra stimulus to raise our competitive advantages and a possibility to work at a market of a 75- million country,’ he said. -0-


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