The country's focus includes offering its range of benefits to the precision engineering industry, in particular via Armenia's expertise, skills, favorable business environment and access to markets.
Literally at the crossroads of East European, West Asian and Middle East markets, Armenia’s commanding position is further enhanced courtesy of tariff free access to CIS markets.
At its peak during the early 1990’s, the Armenian precision engineering sector accounted for 30% of total industrial production and represented a center of excellence within the former Soviet Union. While those days are past, the legacy in terms of skills base and cost efficiencies is sufficient to trigger a renaissance of the precision engineering sector in Armenia with foreign direct investment representing an important catalyst.
For more information, see the publication “Precision Engineering Industry in Armenia” prepared by the Armenian Development Agency [PDF format].