Experts say introduction of new standards of Eurasian Economic Union will have positive impact on Armenian economy

YEREVAN, June 16. / ARKA /. Introduction of new standards of the Eurasian Economic Union in Armenia will have a positive impact on its economy and will boost its industry, according to Fedor Bulygin, deputy head of the Russian Federal Agency for Technical Regulations and Metrology (Rosstandart) who spoke at a gathering in Yerevan convened to look into what should be done to prepare Armenian companies for enforcement of the technical requirements of the Russia-led economic bloc

"Armenia's impending accession to the Eurasian Economic Union will be a landmark event and will prompt other countries to seek membership in the trade bloc,” he said.

Andrei Lotsmanov from the Russian Union of Industrialists and Entrepreneurs said the system of standards, effective in the Customs Union, can be safely practiced in Armenia, because these standards were developed during the Soviet times.

Speaking at the same gathering, Arsen Ghazaryan, head of the Union of Armenian Industrialists and Entrepreneurs, said Armenian products will become more competitive at Eurasian markets after introduction of a single system of standards and certification.

According to him, the Armenian economy had adapted the technical standards of the CIS and its economy worked for years in accordance with them and this is why no cardinal changes are expected.

He also said after Armenia joined the World Trade Organization in 2003 a great deal of work was done to make its legislation comply with international standards. According to him, the same rules are effective in the Eurasian Economic Union.

"It is very important now to inform Armenia’s business community on new technical regulations and standards. No less important is the exchange of information between public and private entities of Armenia and the trade bloc", he said. -0-