Yerevan considers market diversification necessary regardless of EAEU membership - Ministry of Economy
14.09.2026,
16:37
Armenia considers market diversification necessary regardless of EAEU membership, stated Deputy Minister of Economy Tigran Gasparyan.
YEREVAN, September 14. /ARKA/. Armenia considers market diversification necessary regardless of EAEU membership, stated Deputy Minister of Economy Tigran Gasparyan.
"We are essentially still a member of the EAEU. We are making maximum use of all mechanisms within the union and are trying to find solutions to all emerging obstacles in accordance with established EAEU procedures," Gasparyan noted at a parliamentary session on Monday.
According to him, regardless of Armenia's EAEU membership, market diversification is unavoidable.
"Dependence on a single market from an economic perspective poses a serious challenge to stability. Therefore, it is necessary to evaluate various risk scenarios. We are currently a full member of the EAEU and will continue to work from this perspective," Gasparyan said.
Armenia between the EU and the EAEU
Armenian authorities declare a course toward rapprochement with the European Union and the transition to European standards, while stating their intention to maintain membership in the EAEU as long as participation in the two integration areas remains compatible.
Moscow has repeatedly warned of the possible economic consequences of Armenia's transition to EU standards. Russian President Vladimir Putin stated that in such a case, Russia would have to curtail its economic integration with Armenia. He estimated that the country could lose up to 14% of its GDP if energy prices rise after its exit from the EAEU.
David Khudatyan, Minister of Territorial Administration and Infrastructure of Armenia, stated that gas supplies are currently secured, contacts with partners are ongoing, and potential risks to the country's economy remain manageable.
"We are essentially still a member of the EAEU. We are making maximum use of all mechanisms within the union and are trying to find solutions to all emerging obstacles in accordance with established EAEU procedures," Gasparyan noted at a parliamentary session on Monday.
According to him, regardless of Armenia's EAEU membership, market diversification is unavoidable.
"Dependence on a single market from an economic perspective poses a serious challenge to stability. Therefore, it is necessary to evaluate various risk scenarios. We are currently a full member of the EAEU and will continue to work from this perspective," Gasparyan said.
Armenia between the EU and the EAEU
Armenian authorities declare a course toward rapprochement with the European Union and the transition to European standards, while stating their intention to maintain membership in the EAEU as long as participation in the two integration areas remains compatible.
Moscow has repeatedly warned of the possible economic consequences of Armenia's transition to EU standards. Russian President Vladimir Putin stated that in such a case, Russia would have to curtail its economic integration with Armenia. He estimated that the country could lose up to 14% of its GDP if energy prices rise after its exit from the EAEU.
David Khudatyan, Minister of Territorial Administration and Infrastructure of Armenia, stated that gas supplies are currently secured, contacts with partners are ongoing, and potential risks to the country's economy remain manageable.
