Armenia's EEU exports grow despite unfavorable conditions: official

PanARMENIAN.Net - The Eurasian Economic Commission Board Member (Minister) Karine Minasyan discussed the role of the Eurasian Economic Union in the development of economies of member countries, the EEC press office reports.

Addressing the 3rd international forum of graduates of Moscow State Institute of International Relations (MGIMO) in Yerevan, Minasyan stressed the role of regionalization in the global economic architecture, which becomes an objective attempt to find new forms of cooperation that promote economic growth and development.

“The Eurasian Economic Union is a project on the integration map of the world, with common history as its characteristic feature,” the Minister said. “Four out of five countries of the Union are members of the WTO. The EEU is capable of forming its own integration patterns, aimed at creating a common future.”

It wasn’t the most favorable moment to start Eurasian Economic Union in view of the current energy prices and situation on the currency market, Minasyan reminded.

“But on the other hand, most experts think the volume of trade turnover would further drop if it were not for the Union. And in some positions, no matter what, Armenia has greatly increased exports to the EEU countries,” Minasyan said.