Time in Yerevan: 11:07:36,   24 March

Export volume from Armenia to EAEU grows: Deputy minister sees great opportunities in Eurasian market

YEREVAN, FEBRUARY 13, ARMENPRESS. The market of the Eurasian Economic Union (EAEU) has many advantages and is very important for Armenia in terms of export, and the emerging technical and other problems are immediately being solved by Armenia’s proposal. As a result, the trade turnover with the EAEU states increased 11.3% last year. The export volume from Armenia comprised 688 million 976 thousand drams, which is an increase of 20.7% compared to 2017, Albert Babayan – deputy minister of economy, said in an interview to ARMENPRESS.

“Nearly 688 million AMD export share belongs to the EAEU market in Armenia’s export market. The same volume is exported to the EU market and nearly one billion to other markets. In other words, nearly 25-26% of export goes to the EAEU countries. Tobacco, drinks, shoes, textile, communication means, fresh fruits, vegetables, canned food, fresh fish and crayfish are mainly exported to the Eurasian market from Armenia. The most important is that we export ready-made goods to the EAEU states, rather than raw material”, the deputy minister said.

According to the data of the National Statistical Committee, the trade turnover with the EAEU states in January-December 2018 comprised 1 billion 989 million 499.9 thousand drams, which increased by 11.3% compared to 2017.

The deputy minister considers this export growth rate a positive figure and believes that it has a tendency to develop. Albert Babayan stated that it is necessary to use all the opportunities existing in the Eurasian market for carrying out export.

The greatest export share belongs to Russia – 666 million 501.7 thousand USD. The deputy minister said this is linked with the fact that Russia traditionally has been Armenia’s greatest trade partner. “And this is also the reason that we are exporting goods with greater volumes to Russia. In addition, Russia’s market is more affordable from logistics perspective, it is bigger than that of the remaining EAEU states”, he noted.

The trade turnover from the EAEU states has decreased only to Kyrgyzstan, as well as the export – by nearly 45%, comprising 970.5 thousand USD. “Maybe it was more appropriate to export that goods to the other markets. These goods are chocolate, drinks, fruits and vegetables. There are economic entities from Armenia who provide service in Kyrgyzstan, therefore we have no political obstacle with this country”, Babayan said.

Talking about the trade turnover, export obstacles with the EAEU states, the deputy minister said export may cause technical problems for all member states. For instance, there is a restriction for exporting alcoholic drinks and tobacco from Armenia to Belarus which makes the entry of the goods to this market difficult. “But according to the results of the six months of 2018, we see that new goods have been exported which were not exported in the past. In order to overcome this obstacle Armenia has already submitted a proposal to the EAEU respective commission. The proposal is currently at the discussion stage”, the deputy minister said.

Interview by Anna Grigoryan

Edited and translated by Aneta Harutyunyan


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