Chaired by Prime Minister Karen Karapetyan, the Government continued discussing public agency performance reports for 2016, including their compliance with the government’s action plan 2016, priorities and assessed performance.

Minister of Economic Development and Investment Suren Karayan reported back measures aimed at export promotion, attracting investment, improving the business environment and developing inbound tourism in Armenia. In particular, efforts were made to provide for Armenian products’ entry into the networks of multinational corporations, ensure most favorable conditions for Armenian products on the Eurasian Economic Union and other regional markets, as well as to increase the exports.

Preparations have been made to establish a free economic zone on the border with Iran. Practical work is expected to begin by this April. To facilitate access for Armenian passenger cars to Iran, the guarantee fees were substituted with insurance payments. As a result, the required cost threshold was reduced threefold.

Steps have been taken to promote business ties and increase the awareness of Armenian products abroad. 21 business and investment forums were held, with 80 contracts signed with foreign business partners. The ministry organized the visit of a delegation from the Russia representation of METRO AG.

Negotiations were conducted on the export of Armenian products. In particular, an agreement has been reached with Lenta and x5 commercial networks on arranging the export of Armenian cheese to Russia.