SARGSYAN: ARMENIA’S MEMBERSHIP IN EEU PROMISING
YEREVAN, April 7. /ARKA/. Armenia’s membership in the Eurasian economic
Union (EEU) is promising, Armenia’s president Serzh Sargsyan said.
Armenia became a full-fledged member of the EEU on January 2, 2015.
“The outlook is promising, otherwise we would not have made such a
decision,” the president said. According to Sargsyan, becoming part
of the 170-million market is a good achievement for a small country
like Armenia. The EEU operations based on universal, transparent
and civilized rules will help increase prosperity in the country,
Sargsyan said in his interview to Rossiya 24 TV channel.
Progress can be made if all parties do their best, and if there is
mutual trust and respect for sovereignty, the president said.
“I am convinced Armenia has made the right choice, and, I am sure,
there would be many more difficulties in any other circumstances,”
Armenia’s president said. Even without EEU membership, the problems
in the Russian economy would affect the economic situation in Armenia,
he said.
Three main factors should be taken into account, according to the
president.
First, Armenian agricultural products are sold mainly in the Russian
market, and the ruble depreciation that affects the Russian population,
causes problems also to Armenian producers, the president said.
Second, many Armenian citizens or ethnic Armenians work in Russia
and transfer money to their families in Armenia: the value of these
remittances almost halved, Sargsyan said.
And, the third, Russia is the main investor in Armenia’s economy,
which means, problems faced by Russian investors lead to problems in
the country, he said.
Yet, movement of goods, capital and labor force became easier after
Armenia joined the EEU, Sargsyan said.
According to the National Statistical Service, private transfers from
Russia to Armenia through the banking system fell by $172.4 million
to about $1,434.2 million. -0–
From: A. Papazian