ARMENIA MAY RECEIVE STATUS OF COUNTRY WITH MARKET ECONOMY WITHIN YEAR
ARKA News Agency, Armenia
Sept 24 2007
YEREVAN, September 24. /ARKA/. Armenia may receive a status of a
country with market economy within a year, Armenian Minister of Trade
and Economic Development Nerses Yeritsian told journalists.
According to him, several economic issues are on the agenda of
Armenia-EU discussions, among them establishment of free trade regime,
provision of improved GSP+ (Generalized System of Preferences) regime,
recognition of Armenia as a country with market economy.
These are long processes, Yeritsian said, but declaring of free trade
regime and improved regime of GSP+ are the most important ones for
Armenia as they relate to the goods’ market.
"Yet, the most prospective issue that may be solved in the near future
is the recognition of Armenia as a country with market economy; in
this we can achieve success in a half a year of a year if we make
effective efforts," Yeritsian said.
According to him, the remaining issues, after a preliminary discussion,
will be passed on to the President Robert Kocharian who is to raise
them during his visit to Brussels in the first half of October.
Armenian ranked the 34th in the report of the World Bank and the
International Financial Corporation "Doing Business 2007", taking
the lead among the countries of the region and the Commonwealth of
Independent States (CIS).
Based on the classification of "Indicator of economic freedom 2006"
of 161 countries published by World Street Journal and Heritage
Foundation, Armenia improved its position from the 42nd in 2005
to 27th.
According to the results of the research by Heritage Foundation,
the level of freedom of Armenia’s economy is at 69.4% out of 100%
possible. Business freedom index is 84.5%; the other indices are as
follows: trade freedoms 75.6%, fiscal freedoms 93.1%, freedom from
interference of state in economy 91.6%, monetary freedoms 79.7%,
investment freedoms 60%, financial freedoms 70%, property rights 30%,
freedom from corruption 29%, and freedom on labor market 80.9%. The
document also says that low inflation level is recorded in Armenia
and that the country’s banking sector is completely privatized and
well manageable.
From: Emil Lazarian | Ararat NewsPress
