Minister praises Armenia’s two-year membership in Eurasian Economic Union
06.07.2017,
16:41
Speaking at a conference in Yerevan convened to mark Armenia’s two years in the Russia-led Eurasian Economic Union (EEU) Armenian minister of economic development and infrastructure Suren Karayan said the membership has had a positive impact on the Armenian economy.
YEREVAN, July 6. /ARKA/. Speaking at a conference in Yerevan convened to mark Armenia’s two years in the Russia-led Eurasian Economic Union (EEU) Armenian minister of economic development and infrastructure Suren Karayan said the membership has had a positive impact on the Armenian economy.
He said the trade between Armenia and other member countries is increasing year by year. For example, export of processed products from Armenia to Russia increased by 51. 3% in 2016, while the exports to other EEU member countries increased many-fold. According to the minister, Armenia’s membership in the EEU has helped expand Armenian exports market, and also improve the investment environment of the country.
He said the first outcome of the membership is the freedom of markets. The second is the attractiveness of the investment environment. ‘Now, when investing in Armenia, investors get access to a wider market. They estimate it as a country providing access to the 180-million EEU market,’ the minister said.
Karayan stressed that after joining the EEU, Armenia can import energy carriers without customs duties. He also underscored the migration policy, which makes it possible to export also services to the EEU.
"If we had not joined the Eurasian Economic Union, we would have had bigger economic problems," he argued.
Tatyana Valovaya, a Eurasian Economic Commission Board member in charge of integration and macroeconomics, said Armenia is the leading country in the EEU in terms of industrial output, as well as GDP growth and exports to EEU market.
"The Republic of Armenia occupies one of the leading positions among the EEU member countries. In the first quarter of 2017, the country's GDP increased by 6.5% compared with the same period last year, ‘ she added. -0-
He said the trade between Armenia and other member countries is increasing year by year. For example, export of processed products from Armenia to Russia increased by 51. 3% in 2016, while the exports to other EEU member countries increased many-fold. According to the minister, Armenia’s membership in the EEU has helped expand Armenian exports market, and also improve the investment environment of the country.
He said the first outcome of the membership is the freedom of markets. The second is the attractiveness of the investment environment. ‘Now, when investing in Armenia, investors get access to a wider market. They estimate it as a country providing access to the 180-million EEU market,’ the minister said.
Karayan stressed that after joining the EEU, Armenia can import energy carriers without customs duties. He also underscored the migration policy, which makes it possible to export also services to the EEU.
"If we had not joined the Eurasian Economic Union, we would have had bigger economic problems," he argued.
Tatyana Valovaya, a Eurasian Economic Commission Board member in charge of integration and macroeconomics, said Armenia is the leading country in the EEU in terms of industrial output, as well as GDP growth and exports to EEU market.
"The Republic of Armenia occupies one of the leading positions among the EEU member countries. In the first quarter of 2017, the country's GDP increased by 6.5% compared with the same period last year, ‘ she added. -0-
