Karen Karapetyan: favorable investment and business climate will allow Armenia to become a launching pad for Russian entrepreneurs

ArmInfo. The logic of the Eurasian Economic Union (EAEU) for Armenia is very understandable and pragmatic. The Prime Minister of Armenia Karen Karapetyan stated this in an interview with RIA Novosti. According to him, the Eurasian integration project expanded the economic borders of the republic, creating a capacious, almost 180 million market without customs borders. Within the framework of the EAEU, the issues of cooperation with China, Iran, India, Singapore and other countries are also intensively studied.

As the head of the Armenian government noted, today Armenia has a developing economy that reacts to often unpredictable world changes. "The final data for 2017 will be published later this month, but right now I can confidently say that economic growth will be greater than we expected in 2016," the prime minister said.

According to Karen Karapetyan, a favorable investment and business climate will allow Armenia to become a launching pad for Russian entrepreneurs to access new markets. Armenia has a preferential trade regime with the USA, Canada, Switzerland, Norway and Japan, the so-called GSP. Armenia is also one of the 10 countries of the world that use the GSP + European Generalized System of Preferences, which allows exporting to the EU on preferential terms about 6400 names of goods produced in our country. Since January 2018, Armenia has become a member of the REX system, which means that starting from 2018, organizations, once registered in the electronic system, will no longer be required to receive certificates of origin for each shipment of goods, and will be able to export goods to the EU using not only a zero tariff customs duties, but also spend less money on the certificate.

In addition, as the head of the Cabinet reminded, at the end of 2017, a free economic zone began operating at the Armenian-Iranian border in Meghri. "We believe that this FEZ is a good platform for Russian business and capital that has interest in Iran. We are very open in this regard and are ready to cooperate not only on the rights of placing Russian capital in the free economic zone but also in joint investment cooperation" , he said, noting that the FEZ is intended to contribute to the growth of exports and the creation of new jobs, as well as to ensure sustainable economic development through the integration of foreign direct investment and the introduction of advanced technology.

The Prime Minister stressed that the FEZ, being the only one in the land zone of the EAEU - Iran, allows using the opportunities of the 80 millionth Iranian market, creating the basis for the formation of joint ventures. According to Karen Karapetyan, the countries of the EAEU, including Russian entrepreneurs, can take advantage of the opportunities of the free economic zone and export large quantities of goods to Iran, and the Iranian side, on preferential terms, to export its goods to the Unified Energy System and other countries. "Armenia, being a member of the Unified Energy System and having preferential trade regimes with the EU, a common border with Iran, as well as an attractive investment and business environment, in the presence of a free economic zone on the border with Iran, may be of serious interest for export-oriented industries to use Armenia's trade and logistics capabilities, due to its geographical location," the RA Prime Minister said.