Small and medium-sized companies in Armenia will be exempted from customs duties in case of exporting goods worth up to 1 million drams (US$2,100), according to a decision approved today by the government.
Economy Minister Vahan Kerobyan explained that the decision applies to cases when goods worth up to 1 million drams are exported by one carrier to one consignee. Under previous regulations, this exemption applied to exports with a total customs value of up to 200 euros, ARKA reports.
According to the Ministry of Economy, the changes will lead to an increase in the number of suppliers in some markets.
According to the National Statistical Committee (NSC), Armenia’s exports in January-November 2021 grew by 19.4% to $2.711.3 bln compared to January-November 2020. In November 2021, compared to November 2020, the growth was 42.1% and 10.9% compared to October 2021. In Armenian drams the exports totaled 1.366.1 trillion.
