Karen Karapetyan stressed tendency of trade turnover growth within the framework of EEU

ArmInfo. On October 5, Armenian  Prime Minister Karen Karapetyan, speaking at the sixth  Russian-Armenian interregional forum in Yerevan, noted the growth of  trade both within the framework of the EEU and with the Russian  Federation.

In particular, as noted by the Prime Minister, the growth of tourism  is recorded following the results of granting Russian citizens the  opportunity to visit Armenia on internal passports.

Tigran Sargsyan, the chairman of the board of the Eurasian Economic  Commission, in his turn, noted that the unique structure of the EEU  gives its private traders an opportunity to realize their potential,  regardless of the population and GDP of the country. According to  Sargsyan, the EEU primarily provides opportunities for growth of  those sectors of the economy that can operate in the entire Union  According to the Eurasian Economic Commission, the volume of mutual  trade between Armenia and the EEC states as of the end of 2016  amounted to 392.1 million dollars. , having increased in comparison  with the previous year by more than one and a half times (by 53%).  Almost all "union" trade of Armenia falls on Russia (95%).  However,  the trade turnover with other countries of the EEU, due to the low  "starting base", also increased slightly: with Kazakhstan - by 43%,  with Belarus - by 2.1 times, and with Kyrgyzstan - almost three  times.  According to the Minister for Integration and Macroeconomics  of the UNECE, Tatyana Valova, last year Armenia took the first place  in the EEC in terms of industrial production growth rates, which  reached 6.7%.  Almost in the same volume, the production of  agricultural products increased, which enabled the country to  increase food supplies to the all-Union market. Most of all, exports  of fruits, alcoholic and non-alcoholic beverages increased.

The foreign trade turnover between Armenia and Russia grew by 23.5%  per annum in January-August 2017 - to $ 991.8 million. This was  caused by an increase in exports by 36.6% to $ 310 million and  imports by 18.3% to $ 681.8 million. According to the National  Statistical Service of the Republic of Armenia, on these three  indicators Russia holds the championship with a large margin.