Armenia’s accession to customs union to push up prices of many goods

Armenia’s accession to customs union to push up prices of many goods

YEREVAN, February 4. / ARKA /. Armenia's accession to the Customs Union of Russia, Kazakhstan and Belarus will push prices of many goods in Armenia up and besides, Armenia will lose part of its sovereignty, head of a local think-tank warned today.

According to Stepan Grigoryan, head of Globalization and Regional Cooperation Analytical Center, since Armenia imports around 80 % of goods from other than these three countries, the prices of imported goods will rise by at least 15 %.

Besides, Armenia’s economic relations with European countries will be discussed via the Customs Union, which means loss of part of sovereignty.

Grigoryan said also Armenia's accession to the Customs Union brings no clarity to the Karabakh peace process because Armenia joins a bloc whose members have conflicting positions on the problem. -0-

15:13 04.02.2014

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