PRESIDENT: ARMENIA SHOULD MANAGE TO PROTECT DOMESTIC BUSINESS

ARKA
Feb 13, 2009

YEREVAN, February 13. /ARKA/. Armenia should find all possible ways
to protect domestic business, Armenian President Serzh Sargsyan said
at the congress of Prospering Armenia party.

The global crisis makes the countries revise the accepted economic
concepts and agree to changes that were considered inadmissible before,
Sargsyan said.

Yet, developed countries have failed to create a respective cooperation
mechanism so far to reduce the threat, whenever it appears, through
joint efforts, Armenian President said adding that a correct solution
so far.

"Such a situation has made Armenian Government take non-standard
solutions too – direct state interference to protect local producers
and promote exports, setting incentives to use organizational skills
and international market experience of Armenian importers for promotion
of exports," Sargsyan said.

Changes that are being made in Armenian tax and customs legislation
are to revive Armenian economy, the President said.

He said he always considered frequent changes in economic legislation
harmful for economic processes and their planning.

"Yet, we need to solve serious problems today, we should protect
domestic business, we should protect ourselves and we should manage
to find all possible means of protecting the domestic business,"
Sargsyan said.

In this respect, Armenian Government is on a right=2 0path, he
said.