The executive director of the Union of Armenian Manufacturers and Businessmen commented on business environment in the country during a news conference in Yerevan.

“Business outflow from Armenia to neighboring countries, specifically Georgia, can be explained by more favorable conditions for operating a business,” Gagik Makaryan remarked.

“However, an Armenian businessman intending to launch a new venture should be informed that Georgia’s not belonging in CIS rules out export to CIS states or a serious perspective of entering Eastern Europe’s markets,” he noted.

Consequently, only the business meant for internal market would benefit from being transferred to Georgia, Makaryan said, specifying food industry, tourism and construction among promising sectors.