YEREVAN, September 5. /ARKA/. Armenia’s accession to the customs union and the joint economic area will bring the gas prices 30% down, will attract major investments into the country and will help it out from the transport deadlock, director of Centre for Integration Studies at the Eurasian Development Bank Yevgeniy Vinokurov said.
Armenia’s and Russia’s presidents made a joint statement after their negotiations Tuesday saying Armenia intends to enter the Customs Union and participate later in formation of the Eurasian Economic Union.
According to Vinokurov, accession to the customs union and joint economic area will help solve a number of problems, and particularlwill provide access to a fairly spacious and protected market for products with high value added.
If built the North-South corridor will help establish reliable communication between the customs union countries and Iran and South Asia, Vinokurov said.
He also said prices will go down for gas (from the current $270 to $180), for a number of sensitive goods and draft diamonds in particular.
This implies also major targeted investments in Armenian economy (energy, transport, industry), Vinokurov said.
The preliminary calculations of EDB Centre for Integration Studies show that economic effect of integration with the customs union will be about 4%. Construction of the new nuclear power plant, with support from the customs union, creating of rail communication with Iran and re-opening of the one with Georgia will help bring the GDP to much higher levels and enhance Armenia’s economic security.–0--