President Serzh Sargsyan Said Last Year Export Index was the Highest Ever, About $2 Billion

On the occasion of the New Year and Christmas holidays, a gala reception was held at the Presidential Palace for business community representatives. In his congratulatory address, President Serzh Sargsyan touched upon the results achieved in FY2017 and the expectations of 2018.

After wishing good year ahead, the President said: “I want you to build on the achievements we have in 2017. I expect you to not only carry on your business, but to expand it and become the conceivers of new ideas and new initiatives. On January 1st, 2018, the new Tax Code and EAEU Customs Code will come into effect, and you will all see and probably you have already been convinced that almost all your comments and suggestions, voiced during official or informal meetings have been taken into account.”

The coefficient of economic activity is sufficiently high. Over the past 11 months, Armenia had an unprecedented export index equivalent of $2 billion, which makes 20 percent of GDP. Armenia never had such a high index before.

The trade turnover has overrun the threshold of $6 billion over the past 11 months. Everything is interconnected and the new Constitution will become effective in early 2018. “I suggest that in 2018, we all should make sure that the non-formal, non-documented turnover has been minimized. We have agreed with the Prime Minister and the government that we should do our utmost to have fully streamlined business documentation in 2018. This is int he best interest of all of us, including you, the State, the Army, our teachers, and everyone else,” said the President.

The President concluded: “I call on you to go that way without having to be prompted by others. We, too, will do our utmost to cooperate for good, and not just the way an inspector or an enforcing authority and business people would do.”

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