Armenia is to establish a foreign economic activity center that will consolidate key functions related to import and export operations. This was announced on March 24 by the Chairman of the State Revenue Committee, Eduard Hakobyan, at a session of the National Assembly during the discussion of the ratification of a grant agreement between Armenia and the European Bank for Reconstruction and Development (EBRD) for the "Yerevan Customs and Logistics Center" project.

According to Hakobyan, the current customs administration system is characterized by fragmented processes, which in turn leads to more complex procedures and longer processing times.

At present, customs functions are divided as follows: declaration processing and document control are handled by customs authorities, while physical inspections are carried out at separate terminals.

Hakobyan also highlighted infrastructure limitations, noting that a number of terminals lack the necessary facilities for full inspections, including laboratory capacity for the rapid testing of certain categories of goods.

The purpose of the center is to consolidate all procedures within a single facility. Authorities believe this will improve administrative efficiency, reduce time costs, and simplify conditions for conducting foreign trade.

"We intend to integrate into a unified system not only customs functions, but also the processes of all government agencies involved in regulating import and export operations," the SRC chairman said.

According to preliminary data, the center will be located near Yerevan, in the area adjacent to the North-South Highway, in the village of Proshyan in the Nairi community of Armenia's Kotayk Province. The project aims to increase the capacity and efficiency of customs infrastructure, as well as strengthen Armenia's role as a regional logistics hub.

Funding for the program is provided through a €39 million loan with the participation of the EBRD, as well as allocations from the state budget. The €39 million will be disbursed in two tranches — €30 million and €9 million.

Financing under the loan and grant agreements does not include government co-financing, which will be directed toward VAT obligations. The government's co-financing contribution will amount to €9 million, of which €7.8 million is tied to the loan — Tranche 1 at €6 million and Tranche 2 at €1.8 million — plus €1.2 million under the grant.