YEREVAN, July 27. / ARKA /. The newly established Council for Development of Small and Medium-Sized Business will yield positive results, Armenian prime minister Tigran Sarkisian said today after its maiden meeting.

"Small and medium businesses have serious economic, political and social importance and have always been regarded by the government as one of its priorities", Sarkisian said.

He said over the last three years the government has conducted a string of measures aimed at creating a favorable environment for SME development, which is designed to create Armenia’s middle class.

"From the perspective of forming civil society, we believe that without the small and medium-sized businesses we can not register progress. Although we have carried out many measures over the last three years there are still many challenges and obstacles for SME development", he said, adding that the new format of cooperation will allow the government to promptly identify problems and find solutions.

He said the working agenda will be updated continuously and primarily by the SME representatives.

He said also the only fact that the Council is chaired by the prime minister, will allow to quickly form interagency working groups to tackle specific issues, provide clear instructions, involve business people in interagency working groups and provide balanced solutions that take into account the interests of all parties .

"Given the existing positive experience I am confident that the newly created Council will yield positive results," Sarkisian said. -0-