Experts say Armenia’s accession to CU will yield positive resultsJanuary 16, 2014 - 14:57 AMT PanARMENIAN.Net - Representatives of the Research Center of Eurasian Bank believe that Armenia’s accession to the Russia-led Custom Union will have only positive consequences, Integration.su reports. Experts say that the lowered tariffs for Russian gas will overtake Armenia’s gains from the Association Agreement, which was supposed to be signed with the European Union. The saved amount of USD 140 million will be comparable with the GDP growth of USD 146 million, according to the research. After Armenia joins the CU, the country’s GDP growth is expected to be at 4%. Besides, Armenia will benefit from joining the common labor market. The agreements on labor migration will help unify labor resources of the member states, the more so because 85% of the remittances to Armenia are made by labor migrants in Russia, experts assure. In case Armenia joins the Common Economic Space, the amount of transfers will reach USD 40 million annually, what will ensure continuous financing of the trading accounts of Armenia’s balance of payments, the center said. Besides, according to experts, joining the Customs Union will allow Armenia break out of the transport isolation, with the construction of North-South transport corridor and restoration of the railway communication between Russia and Georgia. Among other benefits, they mention building of the new nuclear power plant and implementation of other energy projects. Related links: 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |