YEREVAN, June 16. / ARKA /. Armenia-made goods largely comply with the technical standards set by the Eurasian Economic Community (EAEC), deputy economy minister Garnik Badalyan said today.
Speaking at a gathering convened to look into what should be done to prepare Armenian companies for enforcement of the technical requirements of the Russia-led economic bloc, he said like any country, Armenia has always sought to comply with the latest standards of products in order to be competitive in foreign markets.
“So, we can say that the differences in standards are very small,” he said.
According to him, the main objective of the gathering is to introduce the "rules of the game" of the economic bloc to Armenian business community and prepare them for a smooth entry into the markets of the Eurasian Economic Union.
He said despite this Armenian businessmen will have to make additional investments to bring their products into compliance with the technical requirements of the bloc, ‘but it will pay off because additional investments will increase their chances of winning new markets,” he said.
He said introduction of each technical regulation requires time for discussion and transitional period. According to him, this process may take up to 4-5 years depending on the type of a product. During the transitional period both technical regulations - of Armenia and the Eurasian Economic Union- will be effective in the country, he said.
He stressed that the standardization process is voluntary. He said this does not mean that Armenian products can not be exported to the European and other markets. -0-