Armenia`s trade turnover with EAEU increased by 39% in 2023 -  Pashinyan

ArmInfo.At this stage, strengthening industry cooperation, creating new business connections, establishing cross-border trade in digital services and data exchange should be considered among the priority tasks of the  EAEU. Prime Minister Nikol Pashinyan stated on February 2 at a meeting of the Eurasian Intergovernmental Council in Almaty.

According to him, an analysis of key economic indicators and the  initial basis for interaction between the EAEU member states shows  that the countries of the Union are moving along a trajectory of  sustainable economic growth.

"In 2023, Armenia's trade turnover with the EAEU countries, compared  to the previous year, increased by 39% and amounted to about $7.8  billion. At the same time, exports increased by 40.8%, and imports by  37.5%," Pashinyan noted.

According to the Prime Minister of Armenia, there is already an  institutional environment for the development of the EAEU unified  digital area. "However, in our opinion, ensuring the proper  functioning of general processes for information exchange between  member states, as well as the phased transition of the integrated  information system of the EAEU to a more modern and effective model  of interaction on a digital platform will require separate  consideration and detailed assessment," Pashinyan noted.  In this  regard, he believes that timely and uninterrupted exchange of  information will resolve a significant part of the issues that arose  during the movement of goods and services within the EAEU, and will  reduce most of the administrative barriers, exemptions and  restrictions.

The Prime Minister noted that it is obvious, and at the same time  natural, that e-commerce is developing much faster than the  legislative regulation of this area. The roadmap for creating  favorable conditions for the development of e-commerce within the  EAEU is a balanced plan for the development of the industry, designed  to solve the problem of the lack of a built-in system of legal norms.  The main potential beneficiary of the legal mechanisms for the  regulation of e-commerce is the business sector of the countries.   "Along with deciphering the benefits and advantages for business,  citizens of our states should also feel the practical benefits of the  freedom of movement of goods, services and labor implemented in the  EAEU," Nikol Pashinyan said.