YEREVAN. – International copper prices have a great impact on the economic situation in Armenia, and there are no major grounds for foreign investors to invest in Armenia’s economy because they are not interested at all.
Capital city Yerevan former Mayor, opposition Armenian National Congress member, economist Vahagn Khachatryan, stated the aforesaid at a press conference on Friday.
As per Khachatryan, in the case when the international price of one ton of copper was between $4,500 and $4,700 in the year past, this reached $7,000 in the current year.
“We [Armenia] need to expect the development of the situation in connection with the price of copper,” he explained. “Now, the main buyer of copper in the international market is China.”
The economist added that it is indispensable to assess the respective situation in the Chinese market, and to find out whether or not it needs a new supply of copper.