EEC Minister Ara Nranyan: "The EEU should eventually become one of global economic centers"

ArmInfo. "The Eurasian Economic Union (EEU) should eventually become one of the global economic centers," Ara Nranyan, member of the Board (Minister) of the Eurasian Economic Commission, said during the First Youth Economic Forum "Russia and Armenia: New Drivers of Integration."

"The Union is a rich region in terms of not only natural resources but also scientific and human potentials.  Based on coordinated industrial and agro-industrial policy and cooperation, the EEU will choose a labor distribution that will enhance the competitiveness of our economy sectors and enterprises on the global market," said Nranyan.   

He pointed out that Armenia's EEU membership has formed a new geopolitical reality and an opportunity for a breakthrough. The Union seeks to become a serious actor on the markets of the Near East, Middle East and Southeast Asia. "Today the EEU is holding intensive preparatory work to establish closer trade and economic relations with Iran, Egypt, Israel. In the case of Iran, we should not restrict the cooperation to signing of a free trade area agreement. It should be a range of issues, including a number of large investment projects," he said.        

To note, Yerevan hosts the First Youth Economic Forum "Russia and Armenia: New Drivers of Integration." The forum is being held on the sidelines of IV Russian-Armenian interregional forum "Russia.  Armenia.  Eurasian Economic Union. New Prospects of Interregional Cooperation." The goal of the forum is to form a communication platform for effective cooperation of youth and youth organizations of Russia and Armenia amid development of the Eurasian Economic Union, as well as to exchange experience between the two countries' youth in the areas of youth entrepreneurship, innovative scientific and technical and other projects. At the forum the participants will adopt a resolution and sign a memorandum of cooperation. The participants will be awarded with certificates. The organizers of the forum are the Governments of Armenia and Russia, as well as the Russian Federal Agency of Youth Affairs, the Russian-Armenian (Slavonic) University and other Russian-Armenian organizations. 

Armeniabecame 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.