Tuesday, October 24 2017 17:52

Tatul Manaseryan: Significant revival and growth of Russian economy have beneficial impact on Armenia`s economy

Tatul Manaseryan: Significant revival and growth of Russian economy  have beneficial impact on Armenia`s economy

ArmInfo. The significant  revival and growth of the Russian economy has a beneficial effect on  the Armenian economy. Economist Tatul Manaseryan expressed this  opinion during the round table "The Role of the Expert and  Educational Community of Armenia in the Development of Eurasian  Economic Integration", adding that the Armenian economy is gradually  emerging from the protracted process of slow and low growth.

"This is not just about transfers, but also about the possibilities  for increasing investment, and as a result - increasing jobs and  increasing incomes of the population. "These opportunities can be  multiplied by effectively implementing the command competitive  advantages of the countries of the Eurasian Economic Union," the  expert said adding , that difficulties remain in the interaction  between the EAEU countries.

As a proof of his words, he cited statistical indicators. So,  according to the expert, in January - September 2017, in comparison  with the same period of the last year, business activity grew by  5.1%, but at the same time, there were also negative trends in the  Armenian economy - there is a decline in construction, a decline in  the volume of agricultural production, etc. "According to the  estimates of the Ministry of Finance, high economic activity for  eight months and further trends make it possible to expect that in  2017 Armenia will complete with economic growth in the corridor  4-4.8%," he said. According to Manaseryan, Armenia's foreign trade  turnover is also growing at a rapid pace - in the nine months of  2017, this indicator increased by21.7%, while the growth of exports  of goods and services from Armenia amounted to 19.1%, while imports  increased by 23.2%.

"It is difficult to find common ground in the segment of states that  do not have complementarity in terms of the production chain, for  example, Armenia and Kyrgyzstan are not connected by chains, but  today the competition between representatives of Armenian and  Belarusian IT for the market of Kazakhstan and Kyrgyzstan is actively  developing, the marked competition will be fragmented taking into  account that the Armenian niche is a high-tech service of production  complexes the cooperation between Armenia and Kazakhstan, because  there is a need to develop such processes, unlike Kyrgyzstan," he  stressed.

In Manaseryan's opinion, that the establishment of a free trade zone  between Iran and Armenia serving all the countries of the EAEU is of  great importance, in order to implement the advantages of cooperation  and cooperation. He said that many Russian companies are already  inclined to invest in this zone, it is interesting for Russian  business circles to participate in the work of this zone, as the  potential of not only bilateral cooperation between Russia and  Armenia but also a multilateral one with the potential to enter the  Iranian market is visible. "This cooperation is promoted by active  trade and economic ties between Armenia and Iran, Armenia registered  an unprecedented growth of exports to Iran in the first eight months  of this year - about 11.2% and will receive additional benefits."  This is an unprecedented growth, because for all the years of such  growth in Armenia According to the National Statistical Service of  Armenia, in January-August of 2017, Armenia's exports to Iran  amounted to $ 54.8 million, an increase of 11.2% over the same period  of last year. m, we can say that the Armenian economy is gradually  emerging from a protracted process of slow and low growth", summed up  Manaseryan. It should be noted that the roundtable was organized by  the Eurasian Economic Commission, the Eurasian Expert Club, the  Research and Analytical NGO "Integration and Development" and the  Noravank Foundation.

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