Armenia Only EEU Member-State with Economic Growth Last Year

MOSCOW (Tert.am) — Last year Armenia was the only Eurasian Economic Union (EEU) member-state that recorded economic growth Tatyana Valovaya, EEU Board member, Minister in charge of the Development of Integration and Macroeconomics, said during a multimedia broadcast.

According to her, Armenia’s EEU membership is one of the factors that accounts for this consistent growth. Economic effects are especially appreciable for new EEU members.

“Armenia saw this positive effect last year and continues seeing it this year” she said.

As to what Armenia should do to increase exports Ms Valovaya said that all the conditions are available. “No customs restrictions, and all conditions for expanding exports. The question is business environment and ample opportunities are available for exporting goods on easy terms to Russia and other countries. Many Armenian economic entities have taken advantage of these opportunities.” Many Armenian products can be seen in Russia.

Armenia’s exports to Belarus showed a 45% increase this January-February as compared with last January-February. Armenia’s exports to Kyrgyzstan showed a four-fold increase, and exports to Russia doubled.

“It suggests economic entities are aware of the market potential. They should be more active,” Ms Valovaya said.