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Expert: Armenia's Decision To Join Customs Union Will Benefit All It

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  • Expert: Armenia's Decision To Join Customs Union Will Benefit All It

    EXPERT: ARMENIA'S DECISION TO JOIN CUSTOMS UNION WILL BENEFIT ALL ITS MEMBERS

    Belarusian Telegraph Agency
    Sept 4 2013

    04.09.2013 16:08

    MINSK, 4 September (BelTA) - Armenia's decision to join the Customs
    Union makes economic sense and will benefit all its members, Doctor of
    Economics, head of the economic policy sub-department at the Belarusian
    State Economic University, Professor Alexander Bondar said commenting
    on the statement by Armenia's President Serzh Sargsyan about Armenia's
    plans to join the Customs Union and take part in the formation of
    the Eurasian Economic Union.

    "It is interesting and economically beneficial for Armenia and
    the existing members of the Customs Union. The accession of new
    members promises more export opportunities and will help address
    import-substitution targets," Alexander Bondar said. The Customs
    Union member states have the single customs territory with no customs
    duties and economic restrictions, which considerably facilitates
    product promotion and sales.

    "Integration is gaining momentum on the group level. It is sometimes
    hard to penetrate the market of the European Union, but by expanding
    and strengthening the Customs Union we are creating our own market
    that might grow strong enough to rival the EU market and become its
    partner. Therefore, when the Customs Union strengthens its positions,
    there will be more areas of common interest and more opportunities to
    develop partner relations. We are expanding integration, building up
    our capacities and creating additional opportunities," the expert said.

    Speaking about a possibility of Ukraine's accession to the Customs
    Union Alexander Bondar noted that so far Ukraine has an observer status
    in the Eurasian Economic Community and is an important trading partner
    of the Customs Union member states. The expert said that much will
    depend on how visible the efficiency of the Customs Union will be,
    because it will allow demonstrating the advantages of being a Customs
    Union member. "It will need time. The Customs Union will first welcome
    Armenia, and some time later the country will see economic advantages
    of its membership in the Customs Union," he said.

    At present the Customs Union comprises Belarus, Russia and Kazakhstan.

    Ukraine's Nikolai Azarov announced Ukraine's willingness to join the
    Customs Union agreement on removing technical barriers in mutual trade
    with the CIS member states that are not members of the Customs Union.

    http://news.belta.by/en/news/econom?id=725342

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