YEREVAN (Noyan Tapan)–The US Agency of Trade and Development issued a grant of $250,000 to the National Union of Armenian Cooperative Organizations–whose aim is to investigate opportunities of sugar industry rehabilitation in Armenia.
The program–estimated to cost $454,000–will be carried out and partly financed by Schaffer & Associates International–which has vast experience in sugar production. US deputy Ambassador to Armenia Patricia Moller and Haycoop Chairman Rafael Bagoyan are expected to sign a memorandum on mutual understanding and cooperation in this sphere.
Before the 1988 earthquake–sugar production in Armenia had fully satisfied the deman’s of the republic. Armenia’s yearly sugar consumption is 90,000 tons. The product is imported from Brazil–Iran and Turkey. The rehabilitation of sugar production in Armenia is the immediate task of the government. It will make Armenia less dependent on imported goods and will help create new jobs as well as boost economic activity.
Sugar-processing opportunities in Spitak and Gumri–where there are suitable conditions for sugar cultivation–are to be estimated in the frames of this program. Annual production of 100,000 tons of sugar will fully satisfy the current demand for sugar in Armenia.