Armenia is increasing its economic potential due to Eurasian integration – expert

YEREVAN, April 24. /ARKA/. Armenia’s economic potential has grown due to its membership in the Eurasian Economic Union EEU) that comprises also Russia, Belarus, Kazakhstan and Kyrgyzstan, according to political analyst Aram Safaryan.

Speaking at a roundtable discussion on the prospects for Eurasian economic integration and Armenia's interests Safaryan recalled that the turnover of goods with EEU member countries has increased 10-fold within 8.5 years. In 2022 alone, there was a 2.5-fold growth of trade with Russia.

"We believe that this growth is not only a success for Armenia, but is also the main vector of further economic development," Safaryan said.

In his opinion, even in case of recession in 50 most developed and developing countries in 2023, Armenia will see its GDP grow.

"This should determine the vectors of our political development. I understand that we are far from political integration; there are issues, which cannot be solved in one go. We understand that there is a global confrontation between the West and Russia and it makes a very serious imprint on Russia's relations with its allies in the integration projects," he said.

Safaryan stressed that Armenia faces the temptation of becoming an arena of confrontation between pro-Western forces and supporters of an alliance with Russia.

"We would like to warn the Armenian political forces to refrain from turning the country into an arena of struggle over geopolitical predilections. This can most detrimentally affect the fate of the Armenian people and the country's economic development," the expert said. --0--