Armenia to record 2% GDP growth within year after joining Customs Union - expert

Armenia to record 2% GDP growth within year after joining Customs Union - expert

YEREVAN, January 30. /ARKA/. Armenia’s GDP growth will be 2% or $200 million within a year after the country joins the Customs Union, administrative and finance director of Eurasian Business Council Oleg Velikoredchanin said at a round-table discussion on Eurasian project.

If prices are reduced for raw commodities and energy, the GDP growth will be 4% or $400 million, he said.

Velikoredchanin said plans are under consideration on cooperation in nuclear energy, electricity and transport corridors in the context of Armenia’s accession to the Customs Union. The expert said Armenia may become an electricity exporter to Iran in future.
“North-South road corridor may become a good link between the countries of the Customs Union and the Persion Gulf”, Velikoredchanin said.

According to the expert, Russian businessmen are interested in cooperation on development of color metal fields near Kapan in particular. The current yield is about 12-14 million tons there, whereas cooperation with Russian companies may help increase ore processing by about one and a half times in the next years, the expert said. 

According to Velikoredchanin, Armenia can play an active role in building and improving the Customs Union and contribute to development of its legislation through the Eurasian Business Council.

The Business Council of EurAsEc was founded in 2002 to establish links between companies and enterprises of EurAsEc member countries and arrange discussion between the authorities and the business community across Eurasian area. –0--

12:33 30.01.2014

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