EXPERT: EUROPEAN UNION ONE OF ARMENIA’S BIGGEST ECONOMIC PARTNERS

ARKA
Jul 13 2007

YEREVAN, July 13. /ARKA/. European Union is one of Armenia’s biggest
economic partners, Tigran Jrbashyan, director of Armenian office of
AEPLAC, Armenian-European consulting centre for economic policy and
law, said Friday at a press conference.

He pointed out some figures as convincing evidence of that. "In
2006, Armenia’s exports totaled about $1bln. 47.2% of this amount,
particularly $473mln is exports to EU countries", he said.

Jrbashyan said that imports totaled $2.154bln in 2006. According
to him, goods worth $692mln (31.5%) were imported in Armenia from
EU countries.

The expert added that such tendencies are seen also in the first five
months of 2007 despite Armenian trade turnover’s bent toward Russia.

According to him, quite interesting developments are seen in Armenia-EU
economic relations.

Jrbashyan said that cars and equipment are mainly brought to Armenia
from EU countries.

He views this as positive phenomenon and evidence of Armenian economy
conformity with European technologic development.

The expert thinks European equipment importing in Armenia is
increasingly becoming beneficial, as national currency grows. Armenia’s
total trade turnover grew 39.1% in Jan-May 2007, compared with the
same period a year earlier, and reached $1536.3mln.

Commodities worth $423.58mln were exported from Armenia and those
worth $1112.75mln imported in the country in Jan-May 2007.

Trade turnover with CIS countries made 33% and that with EU countries
37.7% of Armenia’s total trade turnover.

Russia’s quota in Armenia’s trade turnover made 14.6%.