Trade & Services

The state regulation of the sphere of trade and services of the Republic of Armenia is aimed at coordination of the legal-contractual field, at revealing the problems emerged in the sphere and elaboration of proposals to eliminate them, provision of equal competitive base for business people, protection of interests of Armenian business people both in the markets of the republic and abroad, as well as the provision of cooperation between state governing bodies and NGOs.

The sphere of trade and services provided to the population is one of the highly developing branches. Developed countries annually provide 14% growth of trade and services in average. 29% of total amount of registered businesses in the republic relates to the sphere of trade and services. The turnover of the sphere in the republic provides, in average, 13-15% growth each year, making 9.5-10% of GDP.

The activity of foreign trade of the Republic of Armenia in recent years was directed to the principle of liberal policy of foreign trade adopted by the Government of RA, to the maintenance of international obligations assumed by RA, to the formation of a more favorable field for businesses involved in foreign trade, as well as to the stimulation of export of domestic goods.

The undertaken measures resulted in 15% growth of foreign trade turnover in 2002 and 48% unprecedented growth of export volumes, considerably reducing the negative balance of foreign trade.
In the present stage the considerable growth of trade turnover of the Republic of Armenia, especially with Russian Federation (RF), USA, EU countries, makes it necessary to establish representations of RA in foreign countries. A trade representation already exists in RF, the primary task of which is to contribute to the exports of domestic goods to Russian market.