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Armenian textile & garment exports surge
21
Oct '11
Textile and garment exports from Armenia have surged during the initial eight months of the current year.

Rising at a rate of 33.9 percent, exports reached AMD 1.6 billion during the period, Hayk Mirzoyan, Chief of the Industrial Policy Department of the Armenian Economy Ministry said.

He informed that the growth of the country's textile industry has gathered momentum in the past few months. The industry's output increased by 52.7 percent to AMD 4.5 billion during the first eight months of the current year, with garments constituting AMD 3 billion worth of total production.

The sales turnover of the Armenian textile and garment industry too registered a rise of 62 percent during the review period.

The rise in industry's output as well as sales is highly attributable to the Government's policy, he said. He added that the Government altered its customs policy with regards to import of equipments, and planned its tax preferences.

Mr. Mirzoyan revealed that some of the European firms that have penetrated in the Armenian markets are willing to operate in the country on preferential conditions, while employing skilled workers.

He emphasized that most of the times, the Armenian firms utilize customers' raw materials and export majority of their produce. Though, there are some firms that sell around half their produce in the local market.

Germany, Italy, Canada and other European and CIS nations and Russia, in particular are the main export destinations for Armenian textile products, he said.

While talking about the problems impeding the growth of the country's textile industry, Mr. Mirzoyan laid particular emphasis on problems relating to transportation, raw material imports and setting up of textile manufacturing units.

He said that they are working to get these issues resolved. He also informed that while considering some company's proposals, his Ministry has even started deliberating on the modes of establishing a commercial organization in some foreign country, so as to promote and enhance sales of Armenian textile products.

Fibre2fashion News Desk - India

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