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“We aim at creating such economic conditions that would allow to significantly increase the volumes of economic activity conducted in Armenia,” Hovhannes Azizyan, Deputy Minister of Economic Development and Investments, told a news conference on Tuesday, briefing the reporters on the measures set by the 2017-2022 Government Action Plan.

In the official’s words, the above-mentioned results can be achieved only when the economy is competitive, with a capacity of withstanding external challenges.

Mr. Azizyan informed that the Armenian Government will stay focused on all those businessmen who will make new investments and will produce and export competitive products.

Reflecting on the reforms to be implemented in the exports and investment sectors, Hovhannes Azizyan said that the exports share in the GDP is planned to be increased to 42-45%.

“It is necessary to double the current export volumes to reach the target. We must ensure $6.5-7 billion worth of exports by 2022, given the 3.5 billion dollar in exports recorded in 2016. I believe this is an ambitious but realistic figure with a clear program of measures designed to reach it,” the deputy minister underscored.

He particularly informed that starting from January 1 2018 the self-declaration system will be introduced in Armenia, enabling the business operators to carry out up to 6000 euros worth of exports to the EU without submitting a certificate of origin even after self-declaration.

The next measure refers to free trade deals to be signed with various counties.

“This is implemented within the EAEU and currently talks are proceeding with Iran, India and Israel. This will provide our producers with an additional opportunity to export their products under eliminated customs duties,” the deputy minister highlighted, adding that active cooperation is currently under way with Iran, with Armenia acting as an initiator.