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Armenian Economist Welcomes Accession To Customs Union

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  • Armenian Economist Welcomes Accession To Customs Union


    15:29 11.09.13

    A group of economists formed by the European Bank for Reconstruction
    and Development (EBRD) has for the past few months conducted research
    to determine the prospects of Armenia's integration with Europe.

    Head of the group, Doctor of Mathematical Economics, Professor Ashot
    Tavadyan told journalists on Wednesday that on October 18, 2011, in
    Saint Petersburg, Russia, the Armenian and Russian premiers signed
    a free trade area agreement. The Armenian parliament ratified the
    agreement on September 11, 2012.

    "The decision on accession to the Customs Union is a logical follow-up
    to the initial agreement. This is an economic security agreement, which
    is a general security component and deals with energy and transport
    security issues. This is an agreement on unprecedented investments and
    employment rise. Due to the three points, the agreement on accession
    to the Customs Union is essentially different from the Association
    Agreement," Tavadyan said.

    If Armenia joins the Customs Union, $470m investments in railway
    construction will be made, which means one more road for Armenia.

    "The European Union is not going to do it. One more important factor
    is $100m investments by the Eurasian Bank. This will ensure economic
    growth in our country. As regards the energy bloc, accession to the
    Customs Union will allow us to operate our nuclear power plant and
    even to construct a new one," he said.

    Tavadyan stressed that the EU does not allow free movement of people
    which rules out free transportation of products and capital.

    Armenia's accession to the Customs Union reduces the brain drain risk,
    Tavadyan said.