Armenia’s membership in customs union may secure it extra 0.5%-1% GDP growth, minister

Armenia’s membership in customs union may secure it extra 0.5%-1% GDP growth, minister

YEREVAN, April 18. / ARKA /. Armenia’s membership in the Customs Union of Russia, Belarus and Kazakhstan may secure it an extra 0.5%-1% GDP growth annually, the acting economy minister Vahram Avanesyan said today. He said this estimate stems from the findings of a series of relating studies. He stressed that Armenia should be able to use the advantages of its upcoming membership in the Russia-led trade bloc and neutralize potential threats 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-

15:35 18.04.2014

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