Yerevan, October 3 /Mediamax/. The system of the foreign trade of Armenia needs reforming, the Director of the monitoring, analytics and policy Department of the International Financial Corporation (IFC) Simeon Djankov stated in Yerevan today.

Mediamax reports that speaking at a briefing in Yerevan today, Simeon Djankov said that as to the reforms in that sphere, Armenia considerably falls behind as compared with other states in the World Doing Business 2005-2006 Rating.

The Director of the IFC Department thinks that Armenia should pay a special attention to the simplification of the customs procedures. Simeon Djankov brought as an example Georgia, where instead of former 7 organizations, involved in the process of export and import, only one structure functions at present.

According to the IFC report, at present Armenia occupies the 34th place in the World Doing Business 2005-2006 Rating, Georgia is the 37th, Azerbaijan – 99th. However, Simeon Djankov noted that if the Armenian government does not make the reforming process quicker, next year Georgia might leave Armenia behind in the rating.