YEREVAN. – The talks between the world-renowned French Carrefour hypermarket chain and Armenia’s Yerevan City supermarket network have completed and agreements have been reached, Haykakan Zhamanak daily reported. 

“According to these agreements, the spaces of twelve Yerevan City supermarkets in [capital city] Yerevan will be transferred to Carrefour. 

“Carrefour’s such an entry into the Armenian market will bring radical changes.  

“Much has been said about the positive changes [that will occur]. The network, which is second in the world in its domain, is entering Armenia, and this means a completely new work style, principles, [and] culture. Products that are considered exotic and are sold at prices 10 to 12 times higher, will appear in the market of Armenia.

“But it is apparent that there will also be negative phenomena, and this, of course, is due to the fact that a monopoly—Carrefour—will replace another—Yerevan City. And where there is a monopoly, there are also risks. 

“But the biggest problem that will arise is the correlations with the domestic producers. Small number of goods is produced in Armenia whose quality, price, and volume of production can meet the Carrefour requirements,” Haykakan Zhamanak wrote.