Accession to Customs Union to spur competition in Armenia’s economy

Accession to Customs Union to spur competition in Armenia’s economy


YEREVAN, February 4. /ARKA/. Accession of Armenia to the Customs Union will spur competition in the country’s economy, Artak Shaboyan, chairman of Armenia’s State Commission for Protection of Economic Competition, said Tuesday in the Armenian National Assembly. 

He said access to a market with 170 million consumers would help Armenian manufacturers in solving their problems – they will build up their production, driving down prime cost. 

Shaboyan said that the commission has worked out a package of legislative changes in connection with Armenia’s decision to join the Customs Union. He stressed that no considerable legislative changes are needed.  

In early September, Armenian President Serzh Sargsyan and his Russian counterpart, Vladimir Putin, made a joint statement, according to which Armenia has decided to join the Customs Union and to take part in formation of the Eurasian Union in the future.  -0----

18:02 04.02.2014

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