Yerevan/Mediamax/. The draft conception of export-oriented industrial policy was submitted for discussion of Armenia’s business community today.

The conception was drafted on the initiative of the Armenian Economy Ministry with the World Bank funding and cooperation of “Economy and Values” research center, Mediamax reports.

According to the First Councilor of the Minister of Economy Igor Zakaryan, the draft is of utmost importance for the country as it will allow resolving problems of labor force and brain leak from Armenia.

Head of “Economy and Values” research center Manuk Hergnyan said that the three following spheres should be the priority ones for export development: brandy, pharmaceutics and biotechnologies as well as precision engineering.

According to the draft, the implementation of the conception will allow increasing the export share in GDP from current 11 % up to 19% till 2020 and increase the export volume 3-fold increasing it up to USD 3bln per year.