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CUSTOMS WARS: RUSSO-BELARUS STANDOFF ADDS UNCERTAINTY IN ARMENIA'S EURASIAN INTEGRATION
ANALYSIS | 10.12.14 | 11:04
By NAIRA HAYRUMYAN
ArmeniaNow correspondent
Today, December 10, the Russian State Duma will consider the Treaty
on Armenia's joining the Eurasian Economic Union (EEU), which the
Armenian parliament ratified on December 4.
Few observers doubt that the Russian parliamentarians will ratify
the document, but there are doubts regarding plans of the parliament
of Belarus, another member of the emerging trade bloc. At present,
Belarus and Russia are at odds over some current customs regulations
that may lead to further disintegration processes.
In particular, Russia has banned the transit of goods from Belarus to
Kazakhstan following its embargo on food imports from European Union
member states. Moscow believes that Minsk violates this embargo, but
Belarus President Alexander Lukashenko accuses Russia of violating
the agreement on the withdrawal of customs restrictions between
the two countries. In response Minsk restored customs clearance of
goods that are transported from the Russian exclave of Kaliningrad to
"mainland" Russia.
In fact, the basis of the Customs Union, on which the EEU is to be
formed, has been broken. The matter concerns the abolition of customs
inspection at the borders of the member countries. But despite this
controversy, there is an opinion that by December 23, when the EEU
summit is to take place, Russia and Belarus will reach agreement.
Armenia has no land border with the countries of the EEU, and
apparently this is what accounts for the statement by minister of
the Eurasian Economic Commission for integration Tatyana Valovaya,
who said that Armenia may become a financial center of the EEU. The
banking system in Armenia is really quite developed, there is a
national payment system, integration into the global financial system.
Besides, the bank functions do not suffer from the absence of common
borders.
In the Armenian press there are opinions that Armenia can be turned
into a "laundry" for Eurasian money of dubious origin especially that
in Russia, for example, many large banks are under Western sanctions
and have no access to global finances.
Former Armenian Prime Minister Tigran Sargsyan, who currently serves
as ambassador to the United States, spoke about the possibility of
Armenia's becoming a major financial center still in 2009. Armenia
has managed to create a banking system, but the money from that sector
was channeled not to the real sector of the economy, but to offshore
and other questionable transactions. Judging by the nature of the EEU,
the same role awaits Armenia also in the Russian-led economic grouping.
http://armenianow.com/commentary/analysis/59201/armenia_eurasian_union_membership_treaty_russia_ra tification
From: Emil Lazarian | Ararat NewsPress
ANALYSIS | 10.12.14 | 11:04
By NAIRA HAYRUMYAN
ArmeniaNow correspondent
Today, December 10, the Russian State Duma will consider the Treaty
on Armenia's joining the Eurasian Economic Union (EEU), which the
Armenian parliament ratified on December 4.
Few observers doubt that the Russian parliamentarians will ratify
the document, but there are doubts regarding plans of the parliament
of Belarus, another member of the emerging trade bloc. At present,
Belarus and Russia are at odds over some current customs regulations
that may lead to further disintegration processes.
In particular, Russia has banned the transit of goods from Belarus to
Kazakhstan following its embargo on food imports from European Union
member states. Moscow believes that Minsk violates this embargo, but
Belarus President Alexander Lukashenko accuses Russia of violating
the agreement on the withdrawal of customs restrictions between
the two countries. In response Minsk restored customs clearance of
goods that are transported from the Russian exclave of Kaliningrad to
"mainland" Russia.
In fact, the basis of the Customs Union, on which the EEU is to be
formed, has been broken. The matter concerns the abolition of customs
inspection at the borders of the member countries. But despite this
controversy, there is an opinion that by December 23, when the EEU
summit is to take place, Russia and Belarus will reach agreement.
Armenia has no land border with the countries of the EEU, and
apparently this is what accounts for the statement by minister of
the Eurasian Economic Commission for integration Tatyana Valovaya,
who said that Armenia may become a financial center of the EEU. The
banking system in Armenia is really quite developed, there is a
national payment system, integration into the global financial system.
Besides, the bank functions do not suffer from the absence of common
borders.
In the Armenian press there are opinions that Armenia can be turned
into a "laundry" for Eurasian money of dubious origin especially that
in Russia, for example, many large banks are under Western sanctions
and have no access to global finances.
Former Armenian Prime Minister Tigran Sargsyan, who currently serves
as ambassador to the United States, spoke about the possibility of
Armenia's becoming a major financial center still in 2009. Armenia
has managed to create a banking system, but the money from that sector
was channeled not to the real sector of the economy, but to offshore
and other questionable transactions. Judging by the nature of the EEU,
the same role awaits Armenia also in the Russian-led economic grouping.
http://armenianow.com/commentary/analysis/59201/armenia_eurasian_union_membership_treaty_russia_ra tification
From: Emil Lazarian | Ararat NewsPress