Customs union members not working towards synchronization of their financial systems yet

Customs union members not working towards synchronization of their financial systems yet

YEREVAN, April 18. / ARKA /. Andranik Grigoryan, head of a Central Bank of Armenia department in charge of stability and financial system development, told a news conference today that Russia, Belarus and Kazakhstan, the current three members of the Customs Union, were not working yet towards 
synchronization of their financial systems.

He said Armenia’s financial system operates currently as close to international standards as possible.
He added that anything related to the financial systems of the Customs Union must be consistent with international standards.

"Perhaps, in some cases we will have to bring something of our system in conformity (with international standards) and in some cases they (the Customs Union members) will have to do the same, but in general everything must be in accordance with international standards,"  said Grigoryan.

Armenia’s president Serzh Sargsyan announced the decision to make the country a member of the Customs Union on September 3 following the talks with Putin in Moscow.  

Armenia’s Customs Union accession roadmap was unveiled in December last year.  The document lays out 262 steps that must be taken for accession.  

The government in Yerevan wants to continue levying the current import duties on around 900 types of goods, which are significantly lower than the duties applied by the Customs Union.  -0-

17:40 18.04.2014

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