Friday, October 21 2022 15:49
Naira Badalian

Pashinyan states:  Economic mechanisms of EAEU justify themselves

Pashinyan states:  Economic mechanisms of EAEU justify themselves

ArmInfo. Ra Prime Minister Nikol Pashinyan, together with the participants of the session of the Eurasian Intergovernmental Council, was hosted today at the residence  of the President of Armenia Vahagn Khachaturyan.

As the press service of the PM reports, the President wished a  successful course to the work of the session of the Eurasian  Intergovernmental Council and expressed his belief that discussions  in this format will contribute to the development of Eurasian  integration processes and the strengthening of economic security  mechanisms.

Prime Minister Pashinyan thanked President Khachaturian for his warm  words and provided details about the course of the session. In his  speech, the Armenian Prime Minister specifically stated: "Dear Mr.   President, we can already say that traditionally we hold the autumn  session of the Intergovernmental Council of the Eurasian Economic  Union in Yerevan. We had the narrow-format session yesterday, and I  must say, I think our colleagues will agree that it was a very  productive session. We adopted a number of important decisions that  will contribute to the further development of the EAEU.

In general, the autumn session is the concluding session of the  Intergovernmental Council. Today, it can already be noted that the  EAEU economic mechanisms justify themselves, because in these  difficult times for the Republic of Armenia, the trade turnover  between the countries of the Eurasian Economic Union and the Republic  of Armenia has more than doubled. This is a really impressive fact.  It turns out that the formula that we say that difficult times,  crisis situations bring not only challenges, but also new  opportunities comes to life, and we must continue to work closely to  take advantage of these opportunities. I am glad that we are moving  forward in this direction.

Today, the Prime Minister of Uzbekistan, Abdulla Nigmatovich Aripov,  joined us. He will participate in the extended session. Uzbekistan is  an observer country in the Eurasian Economic Union, which is very  gratifying. I hope and am sure that we will have a good, effective  and fruitful session today as well."

It should be noted that the volume of mutual trade between the EAEU  countries in 2021 reached a historical maximum. Last year, this  figure exceeded $73 billion, or almost a third more than in 2020. The  total tonnage of commercial traffic increased by 11%. The growth in  trade in agricultural products amounted to about 21%, Russian Prime  Minister Mikhail Mishustin said at a meeting of the Intergovernmental  Council of the EAEU in an expanded format. The Russian ruble  continues to be the main settlement currency in the Eurasian area,  having a 72% share of business payments. According to the results of  H1 2022, the Union's GDP exceeded $1 trillion. Investments in fixed  assets grew by more than 6.5%, and capital construction volumes - by  3.5%.

The trade turnover between Armenia and the EAEU countries in  January-August 2022 reached $2.8 billion, with  an increase of 74%  compared to the same period in 2021. In particular, as Prime Minister  of Armenia Nikol Pashinyan stated, exports from Armenia have doubled,  and imports have increased by 58%.

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