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EEU Membership Right Direction For Armenia's Economy, Expert Claims

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  • EEU Membership Right Direction For Armenia's Economy, Expert Claims

    EEU MEMBERSHIP RIGHT DIRECTION FOR ARMENIA'S ECONOMY, EXPERT CLAIMS

    YEREVAN, February 2. /ARKA/. Armenia's accession to the EEU is a step
    in the right direction for economic development, head of Armenia's
    Union of Local Manufacturers Vazgen Safaryan told reporters on
    Saturday.

    Currently 23% of Armenia's foreign trade is with Russia, and the
    opportunity of free movement of goods, services and labor will help
    increase sales in Russia, according to Safaryan.

    The expert stressed the importance of Armenia's industrial integration,
    through joint efforts with Russia that also needs to restructure
    its industry.

    The second aspect, according to Safaryan, is agriculture, as Armenia
    has the chance to increase its fruit sales in Russia that restricted
    agricultural imports from Europe.

    He said Armenia's ministry of agriculture is planning to export about
    100,000 tons of agricultural products to Russia this year, as compared
    to about 60,000 tons per year in 2013 and 2014. If taken, this niche
    may help Armenia develop its agriculture, according to the expert.

    Armenia became a full-fledged member of Russia-led Eurasian Economic
    Union (EEU) on January 2, 2015. -0--

    http://arka.am/en/news/economy/eeu_membership_right_direction_for_armenia_s_econo my_expert_claims/#sthash.zy0SGTuf.dpuf

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