In order to stimulate the investments, the Armenian government has implemented numerous assistance programs, which make Armenia an inviting platform for European, Iranian and Asian investors. Due to Armenia’s membership to EAEU, the investors can establish textile manufacturing factories here and export to EAEU member countries with overall population of 183 million people with 0% custom duties.
In addition to mass consumption products Armenian textile companies are also famous for doing subcontracting for world-known brands. Business Armenia has published a marketing package presenting investment opportunities, production potential and key indicators of Armenian textile industry. The package also includes a video presenting investment incentives of Armenian textile sector. It is addressed to foreign investors and is presented under “Select Armenia” brand with “Make your move, Select Armenia” slogan.
According to the information provided by Business Armenia research team, the annual exports of Armenian textile and apparel, leather and shoes products grew by 35%-43% over the past two years, with more than 40% exported to EU countries.