Serzh Sargsyan: Prices of crude hydrocarbons in EEU should enhance competitiveness of commodities

 

"The decisions we are taking today must be tangible for our citizens and the business environment, for every buyer of goods and customer of services, who should feel the integration advantages. We can achieve this goal through coordinated efforts towards minimizing the burden on business, eliminating the technical obstacles, creating 

conditions for entering the common markets in the EEU. In this context, I should stress the importance of adopting concepts of formation of common markets of gas, oil and oil derivatives.  Implementation of these decisions will contribute to strengthening of the EEU economic potential, because the energy market is an important factor of the production chain and the possibility of sustainable economic growth often depends on that market's predictability," said the President.

 

Sargsyan also thinks that economic integration requires better coordination of the member states' approaches at the macroeconomic level. In this regard, he stressed the importance of consistent implementation of the guidelines of the EEU member states' macroeconomic policies for 2016-2017 and development of further effective mechanisms to unify the economic potential. He thinks it will enhance the stability of the EEU countries' economies and will 

help them overcome the consequences of the current unfavorable economic situation.

 

"We should do our best to make our integration an attractive model of economic partnership that will be open to broad cooperation with all interested parties amid the strengthening role of the regional organizations in global policy and economy," he said. At the same 

time, Sargsyan noted that the free trade agreement with Vietnam, signed in Armenia, is in the final phase of ratification and will be ratified literally next week. He added that the EEU also welcomes the legal framework of interaction with Cambodia and Singapore, as well 

as all similar documents signed with the governments of certain countries and international organizations. Sargsyan noted that the Armenian side supports the decision to launch negotiations with Serbia on unification of the trade regime.

 

"As regards promotion of the EEU-EU dialogue, I believe we are all unanimous that the cooperation between the two integration associations should be aimed at achieving coinciding goals to ensure freedom of movement of goods, workforce, services and capital. This 

should contribute to formation of a common space without dividing lines. In this context, we give high priority to interaction of the Eurasian Economic Commission with the European Commission", said the President, pointing out the need to continue a simultaneous dialogue 

with China, as well as with Iran and India. "This would also help increase the coverage of trade, restructure the economy, attract investments for major infrastructure projects, and diversify logistics capacities," he said.