YEREVAN, August 29. /ARKA/. Armenia's exports to Russia, which are subject to Russian restrictions, do not exceed 3% of GDP, said Armenia's Finance Minister Vage Ovanisyan.
“Of course, we will have problems that we will solve in the next five years,” he said in an interview with the Shant TV channel.
According to the minister, the problems with the export of Armenian-origin goods are solvable.
“We have already taken and are taking steps to ensure that Armenian companies facing problems due to export restrictions can resolve these issues. And I can say that, for the most part, these problems have been mainly resolved,” he noted.
Ovanisyan explained that thanks to state support programs, economic entities are finding partners in other countries.
“The diversification tasks that we set over the past five years, but for various reasons could not successfully solve, are now being solved. Our goods, including agricultural products, are exported to many different countries,” he emphasized.
At the same time, the Finance Minister expressed hope that the problems and restrictions imposed by Russia are temporary in nature.
“Nevertheless, I believe that the work we are currently doing to find new export markets, regardless of everything else, is extremely important and opens up new opportunities for us,” Ovanisyan concluded.
On the restrictions on the supply of Armenian products to the Russian Federation
Since the end of May, Russia has been gradually introducing restrictions on the supply of a number of types of products from Armenia, explaining this by violations of phytosanitary requirements. The restrictions affected floral products, mineral water, some drinks and certain types of alcoholic beverages, vegetables, fruits, berries, grapes, potatoes, dried fruits, later — live fish and fish products, and since July 27 — dairy products.
The restrictions also include a ban on the transit of Armenian-origin products through the territory of Russia to other EAEU countries.
On August 10, the head of the monetary policy department of the Central Bank of Armenia, Vazgen Poghosyan, stated that the impact of Russian measures could affect 1-1.5% of Armenia's GDP.
