Belarusian expert says Armenia’s accession to CU will boost tradeNovember 21, 2013 - 15:54 AMT PanARMENIAN.Net - Armenia’s accession to the Customs Union (CU) will provide groundwork for an increase in joint Belarusian-Armenian companies, Assistant Professor at the Department of International Economic Relations of Belarusian State University, Elena Semak said, according to BelTA. Semak said there are currently 25 operators of the distribution network and two joint companies, Armenian-Belarusian Trading House and BelAZ Caucasus Trans Service, in Armenia. With Armenia as a CU member state “we will continue expanding trading relations, opening joint companies,” Semak said, quoted by BelTA. According to her, trade between Belarus and Armenia has a great potential for growth. Belarus’ main exports to Armenia include products of engineering and chemical industry. Armenia exports to Belarus liqueur and spirits, tobacco, fruit and vegetables. Semak also named a number of advantages that the CU membership opens to Armenia. One of the main benefits, according to her, is industrial cooperation, which is able to improve the country’s export potential. The expert believes that the Customs Union means bigger investment for Armenia from the CU member states. Russia has 1,300 companies in Armenia alone. “Once the project is launched, Russia will intensify its presence in Armenia, modernizing companies, opening new firms, putting more investment in equipment and infrastructure,” she said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |