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Time in Yerevan: 11:07,   29 March 2024

Armenia’s FM sees positive development tendency in EAEU

Armenia’s FM sees positive development tendency in EAEU

YEREVAN, FEBRUARY 22, ARMENPRESS. Armenia’s membership to the Eurasian Economic Union (EAEU) made the country have an access to the Union’s market of 180 million which is quite a big market for a small country as Armenia, Foreign Minister Edward Nalbandian said in an interview with Deutsche Welle, reports “Armenpress”.

“Almost two years have passed since the establishment of the Eurasian Economic Union. It was established in the conditions of heavy international economic competitiveness, Russia, which is the driving force of the Union, also faced economic hardships. There were economic sanctions that continue till now. That was a very difficult period. But, despite all these difficulties, the positive is obvious. The negative economic trends have their impact on a small country like Armenia but which has quite an open economic system. However, our membership to the Eurasian Economic Union made the Union’s market of 180 million available to us, and it is quite a big market for Armenia”, FM Nalbandian said.

The Minister attached importance to the fact that Armenia’s products enter this big market without customs fees and administrative difficulties. Nalbandian also appreciated the free movement of capital, investments, labor and services within the Union.

“Those are quite serious directions on which the Eurasian Economic Union works. During the last two years already quite positive experience was gathered in terms of forming the legal base for the EAEU development. It is normal that the citizens of the EAEU member states expect more, and we want to see much more positive dynamics as soon as possible. But here the important is the positive tendency which we see. For instance, in 2016 Armenia increased the export volumes by 50%”, the Minister said.

 

 








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