Armenia’s accession to the EU would close EAEU market for Yerevan, says Overchuk

Deputy Prime Minister of the Russian Federation Alexei Overchuk stated that Armenia’s accession to the European Union would result in Yerevan’s withdrawal from the Eurasian Economic Union (EAEU) and the closure of the EAEU market for the country, TASS reports, quoting Overchuk.

"The solution is very obvious here. Opening markets with the European Union will mean closing markets with the Eurasian Economic Union. Otherwise, our producers in the Eurasian Economic Union will suffer, this is obvious," said the Deputy Prime Minister of the Russian Federation.

 He clarified that for Armenia, "zeroing import customs rates with the EU will automatically mean a return to customs and customs tariffs with the EAEU."

"For us, of course, this is a signal that the beginning of joining the European Union is the beginning of withdrawal from the EAEU," Overchuk said. 

"This is absolutely obvious to anyone who is at least a little familiar with how these two integration associations work," he said.

"Here in Armenia, they know very clearly  about the consequences. No one should have any illusions," emphasized the Russian Deputy Prime Minister.

According to him, those involved in the ongoing discussions in Armenia who claim that a solution can be found are, to put it mildly, misleading the Armenian people.

Overchuk also noted that Armenia’s accession to the EU will be a long process and called for waiting for the results of the parliamentary hearings on the issue.

Referring to Armenia's economic indicators with the EU and the EAEU, the Russian Deputy Prime Minister highlighted that Armenia’s trade turnover with the Eurasian Economic Union is growing, while trade with the European Union is declining.

"The economic situation in Armenia is very positive. The country plays an active role in the Eurasian Economic Union and acts constructively. As I have repeatedly said, Armenia is the main beneficiary of the Eurasian Economic Union," he stated.

According to Overchuk, last year Armenia's trade with the EAEU amounted to $12 billion, which is several times higher than its trade volume with the European Union.