Armenia’s GDP to grow after joining CU: Vyacheslav Kovalenko

YEREVAN, NOVEMBER 8, ARMENPRESS: Russia perceived the Armenia’s decision to join the Customs Union positively. The former Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Armenia, the Regional Program Director of the Caspian Cooperation Institute Vyacheslav Kovalenkostated about it at the Yerevan-Moscow telebridge “Armenia-Customs Union: Public Measurement of Eurasian integration”. He stated that after joining the Customs Union Armenia will get $170 million annually, as a number of customs duties will be liquidated and the GDP will register an annual growth of 4,4%.

“Europe would not be able to offer Armenia the working market conditions suggested by Russia. Armenia will get from the Customs Union what it needs. That is the Union’s logic”, - said Vyacheslav Kovalenko, Armenpress reports.

In the result of the negotiations on September 3, 2013 in Moscow the Presidents Serzh Sargsyan and Vladimir Putin confirmed the aim of the Republic of Armenia and the Russian Federation in the direction of further development of economic integration processes in the Eurasian territory. In that context the President of the Republic of Armenia Serzh Sargsyan announced about the Armenia’s decision to join the Customs Union and the necessity of implementation corresponding steps for that aim and in future about participating in formation of the Eurasian economic union. The President of the Russian Federation Vladimir Putin expressed his support to the abovementioned decision of Armenia and informed about the readiness of the Russian side to support the process. Serzh Sargsyan noted that this decision is not refusal from dialogue with European organizations.

On November 6 the Prime Minister of the Republic of Armenia Tigran Sargsyan and the Chairman of the Eurasian Economic Commission's (EEC) Board Viktor Khristenkosigned a memorandum on strengthening cooperation in Yerevan. The memorandum provides the unificationof all the Armenian structures with the Customs Union bodies ranging from the Supreme Eurasian Council to the Eurasian Economic Commission.