Armenian Government Approves Establishment of Customs and Logistics Centers in Yerevan and Syunik
Yerevan, July 30 – The Armenian government has approved decisions regarding the establishment of customs and logistics centers in Yerevan and Syunik, in collaboration with the European Bank for Reconstruction and Development (EBRD). This initiative is a crucial component of the current program to create foreign trade activity centers (FTACs) adopted by the State Revenue Committee (SRC).
The new customs and logistics centers, one located in Yerevan and the other approximately 7 km from Sisian in Syunik, are designed to provide modern, high-quality, and internationally compliant services to participants in foreign economic activities. This move is expected to significantly improve the quality of service and the speed of processes within the trade sector.
Enhanced Efficiency and Transparency in Customs Control
The establishment and operationalization of these centers will ensure high efficiency, transparency, and predictability in the implementation of customs control and administration. This will contribute to reducing risks and facilitating customs clearance procedures. The project underscores the government’s commitment to modernizing its trade infrastructure and streamlining cross-border operations.
Strategic Importance for Armenian Trade
The selection of Yerevan and Syunik for these centers highlights their strategic importance. Yerevan, as the capital, is a major economic hub, while Syunik, located in southern Armenia, is a critical corridor for regional trade. The development of these centers is anticipated to boost Armenia’s overall trade competitiveness and attract further investment.
The partnership with the EBRD is instrumental in this project, providing not only financial support but also expertise in developing infrastructure that meets international standards. This collaboration is expected to bring best practices in logistics and customs management to Armenia.
Future Outlook
The government and the SRC anticipate that these new centers will lead to a more efficient and transparent trade environment, benefiting both local businesses and international partners. The improved infrastructure and streamlined processes are expected to contribute to economic growth and facilitate greater integration into global trade networks.
The announcement comes amidst ongoing efforts to enhance Armenia’s economic infrastructure and improve its business climate. The focus on modernizing customs procedures is a key step towards achieving these broader economic objectives.
The project is set to have a long-term positive impact on Armenia’s foreign trade landscape, making it easier and more predictable for businesses to conduct international trade.
Source: banks.am
