Diaspora to Aid Armenian Economic Development

"The Diaspora as a Competitiveness Factor" conference opened Thursday in the Armenia Hotel in Yerevan.

Organized with the support of the Yerevan office of the US Chamber of Commerce–the conference aims to discuss methods to further develop Armenia’s economy. Conference participants–who are current investors in Armenia–will view the possibility of targeting the Diaspora as a primary market for Armenian-made products–with Diaspora Armenia’s as main consumers.

World Bank economist Lev Freinkman as well as Armen Ayvazian of the Madenataran–Aram Hajian of MIAD and Fred Harris of DAI spoke at Thursday’s session.

According to the American Chamber of Commerce–(AmChams)–"AmChams in Eurasia are voluntary associations of American companies doing business in a given country. AmChams are formed to provide a unique vehicle for US companies to promote better business conditions–help newcomers understand the market–influence US commercial policy towards a given country–and furnish members with access to decision makers and information about the latest developmen’s. The main focus of an AmCham is to provide services to member firms and business executives who support the organization."

In an interesting piece of related news–Noyan Tapan reported yesterday that 30% of Abovian Brewery’s products are exported. This year–about 1.8 million liters (3.6 million bottles) of beer were exported–with exports expected to reach 2.1 million liters by the end of the year.

Christophe–the brewery’s marketing director said that the beer is sold in Russia–US–Germany and France. The enterprise currently produces three types of beer–Kotayk–Erebuni–and Castel– and one type of seltzer water.

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