Higher power prices make Armenian goods non-competitive in Russia
Higher power prices are making Armenia-made goods uncompetitive in the Russian market, according to Vazgen Safaryan, the chairman of the Union of Domestic Commodity Producers.
Speaking at a news conference today, Safaryan urged the government to take steps to reduce electricity prices and look for cheaper sources of energy.
According to him, the year of 2015 is not successful for Armenia because of several reasons, such as Western sanctions against Russia, which is Armenia's largest trade partner, the fall in oil prices, which depreciated Russian ruble, which in turn is affecting Armenian exports to Russia, damaging in the first place wine, vodka and canned products exports.
Safaryan added that Armenia should pay greater attention to high technologies, saying also that
Russia, in turn, can take advantage of Armenian intellectual potential.
According to the National Statistical Service, Armenian-Russian trade turnover in January-July 2015 stood at $653.5 million, a decrease of 14.3% when compared to the same period last year .-- 0—