EEU market is irreplaceable for Armenian economy – economists

YEREVAN, August 26. /ARKA/. The Eurasian Economic Union (EEU) is the most reliable trade and economic partner for Armenia, political analyst and a member of the Eurasian Experts Club Aram Safaryan told a press conference today.

"Over the last three years the role of the EEU for Armenia has been becoming more and more important. With proper work and positioning, our country can further increase its ties with this platform. Our trade and economic cooperation with Russia is the biggest contribution to strengthening our country's security. The Eurasian market is irreplacebale for Armenia's economy and we should intensify our efforts across that  market," Safaryan said.

Tatul Manaseryan, Ph.D., and a member of the Eurasian Experts Club, noted that the Eurasian Economic Union feeds Armenia with oxygen in the form of finished products.

"Russia has been and will remain a worthy and serious partner in trade and economic relations with Armenia," he said.

Ashot Tavadyan, doctor of economics, and a member of the Eurasian Experts Club, also noted that the Eurasian Economic Union plays an important role in terms of Armenia's economic growth.

"In 2020, we exported 25% of our products to the EEU, and now 30% of all our exports go to Russia," he said.

He said also that there is a serious gap in Armenia's trade balance. "Last year the imports exceeded the exports 1.7 times; this year 1.82 times. Unemployment in Armenia is measured in double digits. There are serious problems in terms of out-migration as well," Ashot Tavadyan stressed.