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PUTIN GIVES NOD TO ARMENIA JOINING EURASIAN ECONOMIC UNION
Russia Today, Russia
Dec 23 2014
Russian President Vladimir Putin has put his signature to a law that
makes Armenia a full member of the Eurasian Economic Union (EEU)
from January 2, 2015.
The document signed Tuesday will add the 3 million people in Armenia
to the 170 million consumers in Russia, Belarus and Kazakhstan.
The agreement stipulates that Armenia joins the Treaty of the EEU,
as well as other international agreements signed under the framework
of the Customs Union. It means Armenia will have to revise its tariff
commitments as a member of the WTO. The Common Customs Tariff (CCT)
of the EEU will be revised as well.
The treaty stipulates transitional periods from one year to eight
years for aligning Armenia's import duties according to the CCT.
Applying the technical regulations of the Customs Union will take
from 12 to 60 months; three years will be given for revising the
issues of intellectual property protection.
Armenia's President Serzh Sarksyan first said the country was choosing
to join its former Soviet ally rather than a European free trade
agreement in early September of 2013.
In October this year leaders of Russia, Kazakhstan, Belarus and
Armenia signed a treaty that will make Erevan a new member of the
Eurasian Economic Union.
On top of this, the Presidents of Russia, Kazakhstan and Belarus
signed the treaty for Kyrgyzstan's accession into the Eurasian
Economic Union. The country is now making serious efforts to adapt
its national legislation to the requirements of the Customs Union,
said President Putin at the EEU summit in Moscow.
Armenia in the Eurasian Economic Union: who wins?
Experts in Russia and Armenia agree that having Armenia in the EEU
is beneficial for both.
Armenia's geographic position between Russia and Iran makes it an
important trade link between the two countries that have recently
been speeding up trade, the Deputy Director of the Russian Institute
of Strategic Studies Tamara Guzenkova said in early December.
Supplies of food from Armenia should also significantly increase,
as Russia's food embargo on Western imports has puts big pressure on
the industry, Guzenkova added.
"Armenia could make a very significant contribution to food security
of the EEU and Russia in particular, as their production is absolutely
clean, good quality, and natural products," she said.
For Armenia, cheaper imports of Russian energy will be one of the
biggest perks, according to Armenia Deputy Speaker of Parliament
Eduard Sharmazanov. Gas will be imported at old prices, and the
country will be able to import oil products 30 percent cheaper, and
acquire weapons at Russian domestic prices, he said on December 4 at
a meeting of the parliament.
On a more pessimistic note, Dr Mariam Voskasian, the assistant
professor of economics at Russian-Armenian University believes the EEU
will test Armenia's economic strength, as to some extent the country
still isn't ready for full integration, as the Russian crisis has
inflicted a painful blow on its economy.
The Armenian economy hasn't shown high growth rates in the last
five years.
"Poverty is increasing along with public debt, general welfare is
decreasing, which in turn influences the growth slowdown. Thus, of
course, in the current situation the integration is risky for both
sides," she concluded.
http://rt.com/business/217031-putin-armenia-joins-eeu/?utm_source=browser&utm_medium=aplication_chrome&u tm_campaign=chrome
Russia Today, Russia
Dec 23 2014
Russian President Vladimir Putin has put his signature to a law that
makes Armenia a full member of the Eurasian Economic Union (EEU)
from January 2, 2015.
The document signed Tuesday will add the 3 million people in Armenia
to the 170 million consumers in Russia, Belarus and Kazakhstan.
The agreement stipulates that Armenia joins the Treaty of the EEU,
as well as other international agreements signed under the framework
of the Customs Union. It means Armenia will have to revise its tariff
commitments as a member of the WTO. The Common Customs Tariff (CCT)
of the EEU will be revised as well.
The treaty stipulates transitional periods from one year to eight
years for aligning Armenia's import duties according to the CCT.
Applying the technical regulations of the Customs Union will take
from 12 to 60 months; three years will be given for revising the
issues of intellectual property protection.
Armenia's President Serzh Sarksyan first said the country was choosing
to join its former Soviet ally rather than a European free trade
agreement in early September of 2013.
In October this year leaders of Russia, Kazakhstan, Belarus and
Armenia signed a treaty that will make Erevan a new member of the
Eurasian Economic Union.
On top of this, the Presidents of Russia, Kazakhstan and Belarus
signed the treaty for Kyrgyzstan's accession into the Eurasian
Economic Union. The country is now making serious efforts to adapt
its national legislation to the requirements of the Customs Union,
said President Putin at the EEU summit in Moscow.
Armenia in the Eurasian Economic Union: who wins?
Experts in Russia and Armenia agree that having Armenia in the EEU
is beneficial for both.
Armenia's geographic position between Russia and Iran makes it an
important trade link between the two countries that have recently
been speeding up trade, the Deputy Director of the Russian Institute
of Strategic Studies Tamara Guzenkova said in early December.
Supplies of food from Armenia should also significantly increase,
as Russia's food embargo on Western imports has puts big pressure on
the industry, Guzenkova added.
"Armenia could make a very significant contribution to food security
of the EEU and Russia in particular, as their production is absolutely
clean, good quality, and natural products," she said.
For Armenia, cheaper imports of Russian energy will be one of the
biggest perks, according to Armenia Deputy Speaker of Parliament
Eduard Sharmazanov. Gas will be imported at old prices, and the
country will be able to import oil products 30 percent cheaper, and
acquire weapons at Russian domestic prices, he said on December 4 at
a meeting of the parliament.
On a more pessimistic note, Dr Mariam Voskasian, the assistant
professor of economics at Russian-Armenian University believes the EEU
will test Armenia's economic strength, as to some extent the country
still isn't ready for full integration, as the Russian crisis has
inflicted a painful blow on its economy.
The Armenian economy hasn't shown high growth rates in the last
five years.
"Poverty is increasing along with public debt, general welfare is
decreasing, which in turn influences the growth slowdown. Thus, of
course, in the current situation the integration is risky for both
sides," she concluded.
http://rt.com/business/217031-putin-armenia-joins-eeu/?utm_source=browser&utm_medium=aplication_chrome&u tm_campaign=chrome