Positive changes open new opportunities for deeper economic cooperation: Pashinyan at EIC meeting

The Republic of Armenia attaches great importance to expanding the geography of the EAEU’s interstate economic relations, considering this direction a key factor in further strengthening the Union’s role in the global economy, Prime Minister Nikol Pashinyan said at the meeting of the Eurasian Intergovernmental Council in Moscow.

According to him, the conclusion of new free trade agreements not only activates dialogue, but also contributes to increasing competitiveness and opening new opportunities for economic growth in the EAEU member states.

“Another important area of economic cooperation is the transport and logistics sector. Diversifying transport infrastructure can provide an additional impetus to increasing trade turnover. In this context, I would like to emphasize that the positive developments taking place in our region open new opportunities for deepening economic cooperation.”

He noted that unblocking regional communication routes could become an important factor in expanding regional ties and strengthening economic stability for all states. “In this regard, I would like to welcome the decision of the President of Azerbaijan to unblock the transit of goods sent to Armenia through the territory of Azerbaijan. This is one of the significant achievements in the process of establishing peace and stability in our region,” the Prime Minister said.

Pashinyan added that the formation of common markets for energy resources is an important guarantee of equal and predictable conditions for all EAEU member states; therefore, it is necessary to consistently move forward with creating fully functioning common markets that ensure effective interaction among all stakeholders, transparency and a balance of interests.

“Accordingly, strengthening domestic supply preferences among EAEU member states takes on special significance in the context of exports to third countries and the formation of unified approaches.”

He noted that amid high volatility in global food markets, the stability of the agrarian systems of EAEU member states is especially important for ensuring economic stability.

“Achieving concrete results directly depends on the implementation of mutually agreed, practical measures, which include the introduction of systemic innovations, digital transformation, and the creation and development of effective mechanisms for financial support for joint industrial, agro-industrial and corporate projects,” Pashinyan said.

Regarding the implementation of the roadmap for creating favorable conditions for e-commerce in the EAEU, he noted that it would be advisable at the next stages to pay special attention to introducing mutually agreed digital solutions and ensuring compatibility of technological approaches used by member states. Pashinyan is convinced that this will simplify e-commerce processes and contribute to the sustainable development of the digital environment.

“Within the framework of digitalization, we emphasize the implementation of initiatives aimed at ensuring digital transformation in various sectors, including the transport and customs sectors.”

In the field of cybersecurity, he noted that it is necessary to prioritize the creation of joint mechanisms, information protection, strengthening the resilience of critical infrastructure, as well as the development and application of standards and methodologies for responding to cyber threats.”

“Such a comprehensive approach will contribute to strengthening trust, increasing the level of protection of the digital environment, and ensuring the security and effectiveness of processes. Armenia is ready for mutually beneficial cooperation,” the Prime Minister concluded.