Economic stability, along with foreign remittances and investment from the large Armenian diaspora, led to high levels of economic growth up until the global financial crises hit Armenia in 2009 and produced a sharp drop in economic activity.
The report says that continued efforts to improve implementation of institutional and regulatory reforms and to develop a more diversified economy are key to Armenia's future economic growth.
The report, along with a policy statement by the Government of Armenia, is the basis for the first Trade Policy Review (TPR) of Armenia by the Trade Policy Review Body of the WTO on 6 and 8 April 2010.
TRADE POLICY REVIEW: ARMENIA
Continued reform and diversification of the economy are key to economic growth
Special Correspondent - 2010-04-10 09:31
Armenia's accession to the WTO in 2003 consolidated a process of trade liberalization and institutional reforms that started soon after independence from the Soviet Union in 1991. This process has continued since accession and Armenia has now a liberal trade and investment regime, according to a WTO Secretariat report on the trade policies and practices of Armenia.