Armenia to support exporters with $14.7 million in subsidies

The Armenian government has approved a 5.365 billion-dram ($14.7 million) subsidy program for businesses exporting agricultural products to the markets of the European Union, the United Kingdom and Canada.

Arman Khojoyan, Armenia’s acting deputy economy minister, said the funds will be used to compensate exporters for expenses related to products shipped in July, Caliber.Az reports, citing Armenian media.

He noted that 2,300 tons of peppers, 1,600 tons of tomatoes, around 7,000 tons of apricots, 1,700 tons of cherries, 430 tons of plums, and 1,600 tons of peaches and nectarines were exported that month.

Earlier, Russia restricted imports of a range of Armenian products — from mineral water and alcoholic beverages to vegetables, fruit and dairy products — citing identified violations.

Since early June, the Armenian government has approved subsidy packages aimed at boosting exports to the EU, Canadian and UK markets by compensating exporters for logistics and customs costs.

By Bakhtiyar Abbasov