Valentina Matviyenko: Armenia`s chairmanship in EEU may boost country`s economic development

ArmInfo. Valentina Matviyenko, Chairwoman of the Council of Federation of the Federal Assembly of Russia, thinks that Chairmanship in the Eurasian Economic Union (EEU) to be taken over by Armenia from February 1, 2016 may boost enlargement of Armenia`s cooperation within the integration union.

She also recalled that former Prime Minister of Armenia Tigran Sargsyan will head the Eurasian Economic Commission, which gives the country an opportunity to actively work on enhancement of EEU and Armenia's economic development. "We are witnessing an evident progress primarily in the economy and establishment of business relations. Armenian-Russian relations are not limited to business relations only these are relations, that support the development of other sectors as well", she noted. Matviyenko also noted that 2015 has been a year of EEU establishment, formation of documentary and organizational basis, economic cooperation, business relations and investment partnership.

To recall, Armenia became a full member of the EEU on Jan 2, 2015.  The agreement on Armenia's accession to the EEU was signed in Minsk on 10 October 2014. The Treaty on the Eurasian Economic Union 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 treaty implies freedom of movement of commodities, services, capital and workforce, implementation of coordinated or single policy in economic sectors stipulated by the treaty and international agreements within the EEU.