YEREVAN, MAY 22, ARMENPRESS: The European integration of Armenia is comparable to the Eurasian integration. As reported by the Armenpress correspondent from Moscow, this was stated during the talk with the journalists by the Eurasian Economic Commission Minister for Integration and Macroeconomics Tatiana Valovaya. “The Eurasian Union and the European Union do not contradict each other. The Eurasian Union will not be a closed fortress, it should be integrated in the international economy”, - said Tatiana Valovaya.

Armenia and Ukraine currently have the observer status in the Euro-Asian Economic Community and as stated by Valovaya, the Eurasian Union aims at institutionalizing the relations with the two countries. In this context the Eurasian Economic Commission Minister for Integration and Macroeconomics highly evaluated the importance of the Memorandum of Cooperation signed on April 11 between the Government of the Republic of Armenia and the Eurasian Economic Commission.

As stated by Tatiana Valovaya, the trade turnover of Armenia with the Customs Union countries is actively increasing. Agricultural and food industry products are mainly exported from the Republic of Armenia.

Concerning the CIS Free Trade Agreement, the Eurasian Economic Commission Minister for Integration and Macroeconomics stated that it would enable to strengthen the dialogue between the Eurasian trade cooperation member countries, in the direction of the technical standards in particular.

The Customs Union member countries are Russia, Belarus and Kazakhstan. By the initiative of the Presidents of the Russian Federation and the Republic of Armenia, a Russian-Armenian joint commission was established to study the cooperation potentials and directions of the Customs Union and the Common economic space with Armenia.