Tuesday, February 9 2016 15:36
Alina Hovhannisyan

Hrant Bagratyan considers integration into EEU as wrong direction of Armenian economic development

Hrant Bagratyan considers integration into EEU as wrong direction of  Armenian economic development

ArmInfo. Integration into EEU was a wrong direction of Armenian economic development, economist Hrant Bagratyan stated at today's press-conference, adding that he does not see any prospects for the country's economy. 

Referring to the official data, the expert noted "After becoming a member of Customs Union, Armenia's trade with Russia dropped by 9%, with Belarus by 10%, with Kazakhstan by 15%, the indicator grew a little with Kyrgyzstan but the matter concerns only to several millions of dollars".
 
Bagratyan is assured that Armenia must head for joining Unions existing on the international markets, without integrating in them. "All those who talked that 170-million market will open for us, did not realize that nothing will be fundamentally changed in our relations with Russia. We always had free market.  Taxation of goods was the same prior to joining EEU and after it", Bagratyan stated expressing negative opinion related to Tigran Sargsyan's appointment 
on the post of Chairman of Eurasian Commission. 
 
To note, Armenia became a full member of the EEU on Jan 2, 2015. Russia, Belarus and Kazakhstan are also members of  EEU, and Kyrgyrstan became a member in August 2015.  The aggregate volume of economy of the EAEU member states is more than $2 trillion and the total industrial output of the three countries amounts to $1.5 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 EAEU 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 EAEU.
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