Home / Knowledge / News / Textiles / Armenia to join Customs Union: Textile sector to gain
Armenia to join Customs Union: Textile sector to gain
03
Jan '14
Armenian light industry comprising of the textile and garment sector would stand to gain as the country is set to join the Russia-led Customs Union within a year.
 
In his New Year address to the nation, President Serzh Sargsyan, said “We have furthered Armenia’s economic, political and military cooperation with the Russian Federation, and next year, I am certain, we will become a full member of the Customs Union.”
 
“Armenia is creating a new reality which will make her more protected and more competitive,” he added.
 
Subsequent to Armenia’s September 2013 decision to join the Customs Union, comprising of Belarus, Kazakhstan and Russia, a memorandum of understanding on Armenia’s admission to the Customs Union was signed last month.
 
The Agreement is likely to be ready by May 2014, and is expected to be ratified by the Parliament of Armenia and also by the Customs Union’s member states in June, Prime Minister Tigran Sarkisian told reporters last week.
 
The Customs Union seeks to gather all ex-Soviet nations to form a free trade zone, on the lines of the EU.
 
Speaking in Armenian Parliament during discussion of draft state budget for 2014, Prime Minister Sarkisian said that by joining the Customs Union, Armenia would be able to obtain relative advantages in the field of light industry.
 
He informed that the Government has approved the strategy for increasing exports of textile industries, which are designed through participation and financing by the private sector.
 

Fibre2fashion News Desk - India


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search