YEREVAN, August 20. /ARKA/. Chairman of an Armenian union of commodity producers argued today that Armenia’s economy has no future without Russia, and ‘therefore Armenia will benefit from close integration with economies of some former Soviet Union’s republics.”
"Our economy can develop only with Russia. Improving economic efficiency should become the cornerstone of our economic development. Our economy should integrate with Eurasian economies as closer as possible,’ he said.
In 2012 Armenian exports to European countries amounted to $560 million, while exports to Russia, Belarus and Kazakhstan which make the Customs Union, only $293 million, however, according to Safarian, this year the trend has changed and exports to the Customs Union are on the rise.
According to the National Statistical Service of Armenia, in January-June 2013 Armenian exports to EU dropped by 3 percent from the year before to $250.5 million, while exports to the Customs Union grew from $125.3 to $149.4 million.
"If we look at Armenian exports to EU, they are mainly raw materials for production of non-ferrous metals. We should seek to sell finished products to Europe instead of raw materials. Armenian finished products are already sold in Russia," said Safarian. -0-