On June 19, the Armenian Parliamentary Friendship Assembly continued its activities and discussed the issues related to the economic and social policy pursued in Armenia.

Gagik Minasyan, the Chairman of the NA Standing Committee on Financial-Credit, Budgetary and Economic Affairs, noted in his speech that the highest index of the economic growth in 2003 was recorded in the RA, i.e. - 13,9%. Such kind of growth is recorded based on the growth of the previous years. In contrast with the post-Soviet other countries, the difficulties of the transitional period in Armenia were accompanied by the negative impact of the 1988 earthquake results, the communication blockade of Azerbaijan and Turkey and the conflict of NKR requiring certain resources. The tendency of the economic growth is stipulated by the stable intra-political state and the consistency of the realized reforms. The economy of Armenia gradually deepens the integration into the world economy. In Armenia in 2003 as the previous four years, the export growth rates exceeded the import rates. Consistent steps are being made for transferring the business from shade to legislative tax field and providing an equal competitive environment.

The tendencies of the economic growth are stipulated by legislative and administrative relevant solutions during the last four years. Nearly all kinds of tariffs had a tendency of certain decrease during the past several years.

One of the important components of the economic development of Armenia is the encouragement of the foreign investments, which supposes state investment projects and non-state, including foreign direct investments in the sphere of business. The state policy is directed at the formation and boost of the favorable investment environment. In 2003 the volume of the foreign direct investments in the real section of economy had nearly 9% growth.       

In Mr. Minasyan’s conviction, if the rates of economic sustainable development continue, soon Armenia will get deprived of the present difficulties and can fully realize the mission of all Armenians, of becoming cultural, spiritual, also economic centre.

As As Gagik Mkheyan, the Chairman of the NA Standing Committee on Social Affairs, Health Care and Environment assessed, the reconstructions of the social sphere of Armenia during the independence period, were stipulated by the formation of the new market relations and demanded resolution of state support, guarantees of social protection, the protection of the proprietor’s rights, social justice and providing solidarity.

In 2003 the RA Government approved “The Poverty Reduction Strategy Paper.” During recent years social and health care sphere stressed support policy is pursued. The preservation of the economic sustainable development and tendencies of budget execution during the forthcoming several years will have visible impact on every social layer especially on the living standards of the persons being under the poverty threshold. United efforts of all Armenians spread all over the world, the support of this Assembly, in particular, will promote the future prosperity and progress of our country.

According to NA MP Mkrtich Minasyan, though Armenia hasn’t economic resources and rich bowels, economic stable growth is noticed during the last years, the protection and further development of which will be stipulated by the productive use of our possibilities, where the role of the Diaspora is too great. Today Armenia, is not expecting help but active participation and investments in the economic life.

This opinion also shares Artak Arakelyan the NA MP, noting that economic development inner possibilities and steps must be undertaken by the active cooperation with Diaspora.

As Robert Beglarean, the representative of the Iranian Parliament ensured only developed Armenia can be the source of fulfillment of hopes and aims of all Armenians hence, the continuation of economic reforms and the joining of all Armenians’ efforts is on the agenda demands.

Oleg Yesayan, the NKR Parliament Speaker, presenting the NKR economic development general description noted, in particular that during years recent normal condition were created for foreign investments: in case of 50.000 and more USD investments, the businessman is exempt of taxes in the first 3 years. He stipulated the active cooperation also by setting up general information field.

The NA Speaker Artur Baghdasaryan thanked the participants of the Assembly for the active and productive work, assuring that the adopted resolution will be consistently implemented in the result of joint and everyday work.

The first Armenian Parliamentary Friendship Assembly finished its activities. All the MPs signed under the adopted Declaration and they have been taken photos together at the end of the Assembly.