Armenia’s economy became more diversified after joining EAEU – EEC minister
YEREVAN, OCTOBER 23, ARMENPRESS. Armenia’s membership to the Eurasian Economic Union (EAEU) enabled to minimize the negative consequences caused by external factors on the country’s economy, Veronika Nikishina - Member of the Board, Minister for Trade of the Eurasian Economic Commission (EEC), told ARMENPRESS correspondent within the framework of the Eurasian Week International Forum in Yerevan.
“Armenia’s membership to the Eurasian Economic Union coincided with the period when the international economic situation was not favorable, and this, of course, affected the economies of all our countries. Armenia’s joining the EAEU enabled to mitigate the negative consequences on the country’s economy which was facing all countries of our Union. Despite not so large economic growth, it became more diversified based on the export growth to the Union’s member states”, the EEC minister said.
She added that the physical volume index of Armenia’s GDP increased by 7.5% in 2017 compared to 2016, although these were quite modest figures globally. “Armenia has recorded the highest economic activity rate among the EAEU member states during January-June 2018. Based on the results of six months of this year, Armenia’s economic activity rate comprised 8.3%, which is the highest figure among the member states of our Union. In 2017 the export from Armenia to the EAEU states has significantly increased – 40%, as well as the export to the third countries has also increased by 20.5%”, Veronika Nikishina stated.
She informed that the Armenian agricultural goods are quite demanded in the Russian market.
Commenting on the activities of the Eurasian Week Forum, Veronika Nikishina said the Forum has become an independent platform where all issues interesting for the business are being discussed. “We are working so that our program maximally takes into consideration the demands and interests put by the business before us. First of all, we are trying to shift from the discussion of political matters to economic issues during the Eurasian Week”, she added.
She informed that this year they have expanded the participation of the business in the Forum, especially through exhibitions. “If our first forums were mainly held at the discussions platform, today we pay great attention to the exhibition events”, she said.
Edited and translated by Aneta Harutyunyan