Nerses Yeritsian: Armenia has potential for developing pharmaceutical
and tourism sectors

8

YEREVAN, MARCH 10, NOYAN TAPAN. Information and high technologies,
tourism, and pharmaceutical sector are of importance from the viewpoint
of diversification and increasing the Armenian economy’s export
potential. The opportunities to increase production volumes in the
pharmaceutical sector are related to growing demand in the
international market, the RA minister of economy Nerses Yeritsian
stated following the visit of Armenian president Serzh Sargsyan to
Liqvor pharmaceutical company on March 7.

The minister explained that the global market of mass-production
medicines will expand year by year, the demand for medical services
will grow, and today there is some deficit of medicines in the world.
"Countries with production, technological and scientific opportunities,
well-qualified labor force and a university potential for personnel
training define pharmaceutics and tourism as high-priority sectors. We
have this potential, and we hope that in parallel with its development
it will become possible to shift to the sale of medicines we have
created. But time is needed to achieve this," N. Yeritsian said.

In his words, thanks to the use of the indicated potential, Armenian
pharmaceutucal companies may expand rapidly, make investments in
scientific and technological developments and produce several types of
medicines under their own brands at much higher prices. It was
mentioned that Armenian companies also have the opportunity to occupy
some niche of the domestic market of most necessary medicines.

The minister added that enterprises of all sectors of the economy have
export and marketing problems, for solution of which the government
plans to provide institutional assistance as well – by using the
capacities of the Armenian Development Agency and the National
Competitiveness Council.