Expert: In a choice between economy and security Armenia has chosen the latter

ArmInfo. Armenia's drive to economic development is a little inferior to the factor of security and Armenia's integration to EEU is explained by this, economist Vilen Khachatryan said on January 27 answering to journalists' questions related to Armenia's membership in Eurasian Economic Union.

"Russia is the region that ensures our security. Armenia is not a NATO member we cooperate with Russia.  Taking into consideration all the factors, when it is necessary to choose between economy ad security, security should be chosen, due to which, however, real sector suffers to some extent," the expert said.

Khachatryan noted that Armenia's membership in EEU just coincided with the period of economic downfall in Russia that is why the results of integration processes are not tangible yet. In this context the expert mentioned three factors, which most negatively impact on the development of Russia's economy.  According to him, these factors are drop of oil prices, sanctions imposed by the West and Ukraine crisis. " If the existing impact factors are settled our membership in EEU would be justified. And today's "sinking ship" will become world supplier of grain, gas and oil", he noted.

Evaluating integration processes within the Union the expert noted that today EEU for Armenia is rather a format of Russia-Armenia cooperation than cooperation with Belarus, Kazakhstan and Kyrgyzstan within this integration.

To note, Armenia became a full member of the EEU on Jan 2, 2015. The aggregate volume of economy of the EEU member states is more than $2 trillion. The prospect of the integration effect in terms of the aggregate GDP growth may total about $900 billion by 2030. The agreement takes into account the principles of sovereign equality of the parties and their territorial integrity, as well as the national interests of the EEU member states. The agreement implies freedom of movement of commodities, services, capital and workforce, implementation of coordinated or single policy in economic sectors stipulated by the given agreement and international agreements within the EEU.