GROWTH OF IMPORT AS COMPARED WITH EXPORT DOES NOT GIVE OCCASION FOR ANXIETY,
MINISTER OF TRADE AND ECONOMIC DEVELOPMENT CONSIDERS

YEREVAN, JULY 27, NOYAN TAPAN. The circumstance that in the first six
months of 2006 the exports of goods from Armenia (without diamonds)
increased by 7.6 percent as compared with the same period of the
previous year (making 1 bln 159.7 mln USD) and imports increased by
30.6 percent (834.9 mln USD) cannot be an occasion for anxiety, as in
the total amount of imports the most part falls to machines-equipment
and new technologies. The tax costs of imported goods also contributed
to the growth of imports amounts. RA Minister of Trade and Economic
Development Karen Chshmaritian informed journalists about it at the
July 26 press conference.

In his words, in the above mentioned period only two big companies
imported machines-equipment and technologies amounting to 70 mln
euros. It is expected that the Armenian companies of mining sphere
will export equipment and technologies of 50-60 mln USD in 2006. It was
said that in total, the tax cost of imported goods increased by 18%.

As the minister prognosed, investments in the direction of import of
equipment and technologies will provide a serious growth of release
of industrial production and its export in 2007.