Export of cognac expected to grow thrice
The Board of Trustees of the Armenian National Competitiveness Foundation held its recurrent sitting in Sevan chaired by Prime Minister Tigran Sargsyan.
The Armenian premier presented the details of Armenia's industrial strategy worked out in cooperation with the World Bank. He noted that it represents an industrial policy targeted at the increase of the volume of exports. The strategy involves eleven branches of industry.
"We have tried to reveal the industrial potential of our country and assess our intellectual and infrastructure resources," said Tigran Sargsyan.
He noted that programs in the field of three main fields - cognac production, pharmaceutics, and instrument engineering - have already been discussed with representatives of the private sector. The strategic programs of the above-mentioned spheres envisage a rapid growth of exports. In particular, the export of cognac is expected to grow thrice by 2020.
"We aim to develop the industrial power of our country and boost exports under the cooperation between the state and the private sector. This is a serious step, since for the first time in history our country will have an industrial strategy with clearly determined priority directions," Tigran Sargsyan noted.
