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As of 2010, the project has been constantly delayed, with the rail link estimated to price as much as $4 billion and stretch 313 km . In June 2010, Transport Minister Manuk Vartanian revealed that Yerevan is seeking as much as $1 billion in loans from China to finance the railway’s construction.

The investment programs for these companies must still be accredited by government. The “Alliance” FEZ was opened in August 2013, and currently has 9 companies taking advantage of its facilities.

At the identical time fee of unionization was dropping at average fee of 1% since 1993. As of October 2008, the Armenian government was contemplating implementing an formidable project to build a railway to Iran.

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In December 2017 government transferred natural fuel distribution networks in cities Meghri and Agarak to Gazprom Armenia for cost-free use. Construction of those was funded by overseas help and costed about 1.three billion AMD. In September 2002, the Armenian authorities handed over Armenia’s largest cement manufacturing facility to the Russian ITERA fuel exporter in fee for its $10 million debt for past fuel deliveries.

The 400 kilometer railway would move by way of Armenia’s mountainous southern province of Syunik, which borders Iran. Economic analysts say that the project would price at least $1 billion (equal to about 40 p.c of Armenia’s 2008 state budget).

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Meanwhile, the Speaker of Parliament of Armenia stated that the EU stays considered one of Armenia’s major partners and cooperation with the EU relies on a typical worth system, in the course of the meeting. On April 12, 2017 the Armenian Foreign Minister, Eduard Nalbandyan attended the EU Eastern Partnership and Visegrád Group assembly in Warsaw, Poland.

In August 2002, the Armenian government sold an eighty percent stake in the Armenian Electricity Network to Midland Resources, a British offshore-registered firm which is claimed to have shut Russian connections. Since 2000, the Russian state has acquired a number of key property within the energy sector and Soviet-era industrial vegetation.

Throughout history, Armenian cuisine has had cultural trade with its Greek, Persian, Turkish, and Arab counterparts. Since gaining independence in 1991, lots of of 1000’s of Armenia’s residents have gone overseas, primarily to Russia, seeking work. Unemployment has been the major explanation for this huge labor emigration. OSCE specialists estimate that between 116,000 and 147,000 individuals left Armenia for financial causes between 2002 and 2004, with two-thirds of them returning home by February 2005. According to estimates by the National Statistical Survey, the speed of labor emigration was twice as greater in 2001 and 2002.

A new gas pipeline to Iran has been completed, and a highway to Iran through the southern metropolis of Meghri allows trade with that nation. An oil pipeline to pump Iranian oil products can be in the planning phases. Political observers say that Armenia’s financial cooperation with Russia has been one of many least clear areas of the Armenian government’s work. The debt preparations have been personally negotiated by Defense Minister Serge Sarkisian, initially Kocharyan’s closest political affiliate. Other high government officials, including former Prime Minister Andranik Markarian, had little say on the problem.

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The President stated with satisfaction that in recent years Armenia has registered significant progress within the relations with the European Union. He additionally acknowledged that the country is willing to expand the existing partnership with the EU in all attainable areas.

The Minister careworn the importance of the Eastern Partnership and Armenia’s relations with the EU. He also thanked the EU and the European Investment Bank for funding construction of recent highways and border crossing checkpoints with neighboring Georgia. The Minister said that Armenia is a rustic willing to bring together the EU, Eastern Partnership states, and Eurasian Union members to foster economic growth and development. Armenian cuisine is as ancient as the historical past of Armenia, and a combination of various tastes and aromas. Closely associated to Eastern Mediterranean cuisine, varied spices, vegetables, fish, and fruits mix to current unique dishes.

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The focus of “Alliance” FEZ is on excessive-tech industries which include information and communication technologies, electronics, prescription drugs and biotechnology, architecture and engineering, industrial design and various power. In 2014 the government expanded operations in the Alliance FEZ to include industrial production as long as there isn’t a comparable production already occurring in Armenia. Following the advice of economic advisers who cautioned Armenia’s leadership against the consolidation of economic power within the palms of some, in January 2001, the Government of Armenia established the State Commission for the Protection of Economic Competition. Since transition of energy to new management in 2018 Armenian government works on improving home enterprise environment. Numerous previously privileged business at the moment are required to pay taxes and formally register all staff.

Property-for-debt or fairness-for-debt swaps (buying possession by simply writing off the Armenian government’s debts to Russia) are usually the tactic of buying assets. The failure of market reforms, clan-based mostly armenian girls economics, and official corruption in Armenia have allowed the success of this process. In 2015, one other “Meridian” FEZ, focused on jewelry production, watch-making, and diamond-cutting opened in Yerevan, with six businesses operating in it.

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Furthermore, all of the controversial agreements have been introduced after Sarkisian’s frequent journeys to Moscow, without prior public discussion. Critics of the Robert Kocharyan authorities say that the Armenian administration never thought of alternative ways of settling the Russian debts. According to economist Eduard Aghajanov, Armenia could have repaid them with low-curiosity loans from different, presumably Western sources, or with a few of its onerous currency reserves which then totaled about $450 million. Furthermore, Aghajanov points to the Armenian authorities’s failure to get rid of widespread corruption and mismanagement within the vitality sector – abuses that value Armenia a minimum of $50 million in losses every year, in accordance with one estimate.

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