Vache Gabrielyan: Armenia registered significant growth of export to EEU countries in 9 months of 2016

ArmInfo. Within 9 months of 2016 Armenia has registered significant growth of export to the countries of the Eurasian Economic Union, Deputy Prime Minister, Minister of International Integration and Reforms Vache Gabrielyan told journalists in parliament on November 19.

According to him Russia is the main country of the EEU, to which Armenian products are exported. At the same time he noted that the established common market of medicine products gives Armenian producers an opportunity to sell drugs registered in Armenia in all the five countries of the EEU, which also has positive impact on export rates. At the same time Gabrielyan noted that common market does not imply Armenian producers' direct participation in the process of state procurements, as other procedures are required for state procurement.  "However, free trade of Armenian drugs in all the five countries of the Union is becoming reality", Gabrielyan stated.

Deputy Director of Eurasian Economic Commission's Integration Development Department Saadat Asanseitova noted that Armenia already benefits from its membership in EEU. "If we study the figures of the 9 months of 2016 Armenia is the only country that has increased export to the EEU countries 1.6-fold, which demonstrates that the Republic's economy is recovering", she noted adding that if in 2015 slow down of economy was registered, now export is growing significantly. "The growth has been ensured due to growth of supply of food and agricultural products 1.4-fold and textile and shoes-2.5-fold. Besides, Armenia also leads by GDP growth figure-2.8% in the first half of the year, which is higher compared to the EEU's average figure", she stressed.

At the same time Asanseitova added that between 2011 and 2015 investments from the EEU countries into Armenia's economy grew almost 7-fold and in 2015 totaled 3 bln dollars.  However, according to her development of the country's economy may be further ensured in case free economic zone agreement is signed with Iran. "Armenia as a border country is most interested in this agreement as according to our forecast in case tariff policy with Iran is liberalized export of EEU countries will increase more than by 70% while import from Iran to EEU market will increase by 28%, Armenia's export will grow 3-fold", she summarized.