YEREVAN. - A reception for the representatives of the business community was held on behalf of the President of Armenia Serzh Sargsyan at the President’s Palace on Thursday on the occasion of New Year and Christmas.

The President congratulated the businessmen on the coming holidays, wishing them success in 2017.

In his speech, Sargsyan noted that entrepreneurs are one of the most active strata of each society: new jobs, products and services are created thanks to their successful work.

Get collateral consumer loans with 18-19% annual interest rate till December 30

“The most necessary precondition for the business is the personal initiative.  In Armenia you have already stood out by your activity, thus the work of each of you must be in the center of the authorities’ attention. Our government, which is already hundred years old, launched its work with this very logic,” he said.

According to the President, trust definitely has no measurable unit. “Nevertheless, we all know that no work can be carried out without trust: the joint efforts of various individuals and organizations are needed to carry it out,” Sargsyan noted.

“Our government gives an opportunity to all of us to lay new foundations of efficient cooperation for our future development. From this point of view, I expect that the Government will provide quality service, being your reliable partner.

Thanks to the consistent work carried out in the recent years, the foreign economic environment of Armenia has significantly changed. As a result of that work, the factors ensuring economic growth have [also] changed. But I should note that certain external challenges have emerged and developed much faster than we managed to get used to them.

One thing is apparent: We need speedy development growth, which calls for the adoption of new approaches to economic development. In the conditions of reduction of external inflow of resources, promotion of economic growth through export has come to dominate,” he stressed.

The first steps in this direction were made by initiating a policy aimed at export. Judging by the data of 2015-2016, one can conclude that the economy has certain potential to develop in that direction, Sargsyan noted.

“The indexes of the correlation between export and import in January-November 2016 allow to insist that the export should be the driving force which will ensure the further speedy economic growth. However, it is necessary to work in this direction without relying solely on the state resources.

The complete revealing of private sector potential—using all the possible formats of collaboration between the public and private sector adopted by the Government—is an important task.”

According to the President, Armenia’s accession to the Eurasian Economic Union facilitated the movement of goods and services in a market with over 180 million residents.

However, despite apparent progress, Armenia still has much to do to make full use of its export potential.

“We must together advance new ideas, carry out research of new markets and aggressively target these new markets. The use of the word “aggressive” is perhaps the most acceptable one in this context, since aggressiveness is of no use in other places. For instance, the common market of medicines already formed in the framework of the Eurasian Economic Union creates wide opportunity for the Armenian companies operating in that area, especially those with proper manufacturing practice.” 

In his words, now it is necessary that the producers raise precise issues before the relevant circles of the Government so that the latter can support the advancement of Armenian products in that common market.  “There are various such prospects and opportunities, and not only in the EAEU but also in other regions.

Our priority task is to strengthen the mutual trust between the Government and business community, contributing to the development of Armenia,” the President concluded.