According to the information provided by Business Armenia the annual export growth of Armenian textile & apparel, leather & shoes products was 35%-43% during the last 3 years, with more than 40% being exported to EU countries.

In order to stimulate the investments, Armenian government has implemented numerous assistance programs, which make Armenia an inviting platform for European, Iranian and Asian investors. Due to Armenia’s membership to EAEU*, the investors can establish textile manufacturing factories here and export to EAEU member countries with overall population of 183 million people with 0% custom duties.

Business Armenia (the rebranded Development Foundation of Armenia) was established by the Government of the Republic of Armenia in 2015, with the mission of promoting the country's economic growth. The aim of the Foundation is to enhance Armenia’s rating and competitiveness, attract investments and promote export. Business Armenia promotes cooperation between public authorities and entrepreneurs (PPP), implements joint projects, supports foreign investments and provides post investment services.

*EAEU, the Eurasian Economic Union, sometimes known informally as the Eurasian Union, is a political and economic union of states located in central and northern Eurasia. Member countries are: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.