Prime minister Karen Karapetyan on Thursday, November 23 gave a positive assessment of the development and expansion of the wine industry in Armenia.

"Around 7.5 million liters of wine were produced in the country in 2016, which is by 14% more than the amount produced a year earlier," Karapetyan said as he addressed the International Wine Conference in Yerevan.

"Furthermore, 1.8 million liters were exported in 2016, up by 37% against 2015. My colleagues have promised a similar dynamics for 2017."

According to the PM, Armenian wine factories are now equipped with quality technologies from France, Italy, Germany, while investments come from Argentina, the United State, Switzerland and Italy.

Also, Karapetyan said Diaspora Armenians too make a major contribution to the development of the sector.

The International Wine Conference is initiated by the Vine and Wine Foundation of Armenia and is aimed at identifying the prospects of development of the sector, attracting new investments, as well as deepening business and scientific cooperation.