Investment volumes from EAEU states to Armenia significantly increase after joining the Union
YEREVAN, OCTOBER 10, ARMENPRESS. After joining the Eurasian Economic Union (EAEU) the investment volumes from the Union’s member states, especially from Russia to Armenia have significantly increased. The export volumes from Armenia to the EAEU states have also increased. At the same time the EAEU membership didn’t hinder the export of Armenian products to the European Union, as well as to other countries.
Naira Karapetyan – head of the EAEU and External Trade Department at the ministry of economic development and investments gave an interview to ARMENPRESS talking about this topic.
-Mrs. Karapetyan, what is the trade turnover between Armenia and the EAEU countries? How much has it been increased since Armenia’s membership?
-Significant growth in mutual trade with the EAEU member states has been recorded since Armenia’s membership to the Union. In 2016 compared to the previous year Armenia’s trade turnover volumes with the EAEU states have increased by 15.3%. In the first 8 months of 2017 the trade turnover volumes with the EAEU states have also increased by 23.7%, including by 23.5% with Russia, 5.5% with Kazakhstan, more than two times with Kyrgyzstan, and 35.1% growth has been recorded with Belarus.
-To what EAEU countries did the export volume from Armenia increase, what goods are exported from Armenia to the EAEU countries?
-Significant increase in export of Armenian goods to the EAEU states have been registered after Armenia’s membership. In 2016 compared to the previous year the export volumes to the EAEU states have increased by 53%. In addition, the export increased by nearly 20% compared to 2014 when Armenia was not a member of the EAEU. In the first 8 months of 2017 the export volumes to the EAEU states have increased by 34.2%.
At the moment agricultural products, alcoholic and non-alcoholic drinks, textile products, cigarettes, chocolate and other sweets, medicines, stones designed for construction are exported from Armenia to the EAEU countries.
-Has the import volume from the EAEU states increased? From which country does Armenia mostly import goods?
-In 2016 compared to the previous year the import volumes from the Union’s member states have increased by 5.3%. The import volume from Russia has increased by 5.7%, from Kazakhstan by 75%. It decreased from Belarus by 8.9%, and from Kyrgyzstan by 60%. But in the first 8 months of 2017 the import volumes from the EAEU states have increased by 19.5%.
-After joining the EAEU in which spheres of Armenia did the investments of the member states increase?
-The investments of the member states since membership have increased in different sectors. In 2014 the investments amounted to 839.8 billion AMD, whereas in 2015 it was 965.3 billion AMD, and in 2016 this number was 977.1 billion AMD. The investment volume from Russia increases since 2015. The investment volume in the first half of 2016 comprised 140.9 billion AMD, and in the first half of 2017 it was 181.4 billion AMD. Investments are being made in mining industry, processing industry, energy, gas, steam supply, wholesale trade, land transport, telecommunications fields.
Full interview available in Armenian
Interview by Anna Grigoryan