Armenia’s membership in EEU right

Armenia’s membership in EEU right

Aram Safaryan, the president of the Yerevan-based NGO Integration and Development, said today that Armenia’s membership in the Eurasian Economic Union (EEU) was a justified move against the backdrop of the current geopolitical developments.

“The EEU expert group finds that Armenia’s membership in the EEU was right, as it offered us an opportunity to avoid disagreeable political volatilities many countries are facing today,” he said at a news conference.

Professor in Economics Ashot Tavadyan pointed out the need for Armenia to develop multi-sectoral with not only the EEU members but also Europe, China and Iran.

Mentioning the different economic challenges caused by global developments, he first pointed out to the currency slump in Russia and the subsequent decline in the private transfers from that country (which the economist said is 30%).

According to him the second difficulty, which is has nothing to do with the EEU membership, is the decline in the prices on metals.

Professor Tatul Manasaryan, another economist attending the news conference, said that despite the existing vulnerabilities, he doesn’t see any alternatives – either to the bloc on the hole or to Armenia’s membership in it.

He also highlighted the high demand in the IT industries, a sector in which he said Armenia has leading positions.

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