ARMENIAN TRADE MINISTER FOR EFFORTS TOWARD STABLE ECONOMIC DEVELOPMENT

ARKA News Agency, Armenia
March 13 2006

YEREVAN, March 13. /ARKA/. The efforts being made in Armenia’s
economic sector must be aimed at ensuring the country’s stable
economic development, RA Minister of Trade and Economic Development
Karen Chshmarityan stated at his meeting with the IMF Resident
Representative to Armenia James McHugh and IMF executives.

“There is a necessity of directing efforts in the economic sector to
ensure Armenia’s stable economic development,” Chshmarityan said,
briefing the IMF representatives on the economic reforms being
implemented in Armenia.

For these goals to be achieved, the sides pointed out the necessity
of a number of reforms, particularly, the improvement of the customs
and tax environment, development of the banking system as a financial
instrument of business promotion, as well as struggle against shadow
economy.

The sides also discussed the current state of Armenia’s economic
development, process of cooperation and future plans.

For further cooperation to be better organized, Mr McHugh asked the
Minister to present the main tasks of Armenia’s economic strategy.