Economy, Domestic Economy

Armenian Market Saturated

Armenian Market SaturatedArmenian Market Saturated

The Armenian market is mostly at the disposal of Chinese, Russian and European firms, making it highly competitive, therefore Iranian traders should exercise due diligence before entering the market, says Iran’s commercial attaché to Armenia, Hamayak Avadis Yans. “If an Iranian firm seeks to start a business in Armenia, it should wait until one of the foreign producers exits the country,” he was quoted as saying by Mehr News Agency. Moreover, Armenia’s labor market is so small that much of its workforce has immigrated to Russia amid high unemployment, according to the official. The commercial attaché suggested that Iranian traders take part in international exhibitions to increase exports to the Caspian Sea littoral state.