On May 23, the Armenian government decided to temporarily ban transit to the member states of the Eurasian Economic Union and export to third countries.
This decision was made in connection with the need to regulate the export of goods made of ferrous and non-ferrous metals that were in use, as well as to develop local production and ensure the raw material base. It is assumed that such a step will stimulate the activity of Armenia's processing industry by attracting new investments.
The main goal of the decision is to ensure the economical use of the metal raw material base, develop local production, and replace imports.
This, in turn, contributes to more effective regulation of the export of ferrous and non-ferrous metals and creates conditions for competitive offerings of metal products in the domestic market, including products with higher added value.
