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ITAR-TASS, Russia
February 22, 2014 Saturday 03:37 AM GMT+4
Armenia's economy to obtain new growth possibilities from joining
Customs Union - Armenian PM
YEREVAN February 22
- Armenia's economy will obtain new growth possibilities after joining
the Customs Union of Russia, Belarus and Kazakhstan, Armenian Prime
Minister Tigran Sarkisyan said on Saturday.
"We have scrutinized and analyzed all options: Armenia's economy in
general will have no losses from this process, on the contrary, it
will obtain new possibilities for growth," he said in an interview
with Itar-Tass. "Our political decision on joining the Customs Union
was well-balanced, thoroughly thought over and well-justified. It
takes into account the interests of Armenia's economy. In general, it
meets the country's interests."
According to the Armenian prime minister, "accession of the Customs
Union is a multifactor process." "Duties on some goods are higher in
the Customs Union than in America, while duties on other goods are
higher in Armenia than in the Customs Union," he noted. "So, it is
only natural that there are certain risks of price growth in Armenia,
in particular on those goods, which we must raise duties on to match
them with the duties in the Customs Union. Sure, it may trigger
certain inflation processes."
"We have assessed this process: if we have no exceptions on goods we
are asking, the maximal inflation level will not exceed 1.4 percent,"
Sarksyan forecasted. "This is not the inflation our opponents are
threatening people with, saying that if we join the Customs Union, we
will have turbulent inflation processes. Things are different:
inflation will be controlled and will not be very high."
"If we reach agreement with our colleagues in the Customs Union on the
terms of exceptions, inflation pressure will be much lighter," he
noted. "On the other hand, it is necessary to speak about the positive
effects our producers, or society will have when we join the Customs
Union."
February 22, 2014 Saturday 03:37 AM GMT+4
Armenia's economy to obtain new growth possibilities from joining
Customs Union - Armenian PM
YEREVAN February 22
- Armenia's economy will obtain new growth possibilities after joining
the Customs Union of Russia, Belarus and Kazakhstan, Armenian Prime
Minister Tigran Sarkisyan said on Saturday.
"We have scrutinized and analyzed all options: Armenia's economy in
general will have no losses from this process, on the contrary, it
will obtain new possibilities for growth," he said in an interview
with Itar-Tass. "Our political decision on joining the Customs Union
was well-balanced, thoroughly thought over and well-justified. It
takes into account the interests of Armenia's economy. In general, it
meets the country's interests."
According to the Armenian prime minister, "accession of the Customs
Union is a multifactor process." "Duties on some goods are higher in
the Customs Union than in America, while duties on other goods are
higher in Armenia than in the Customs Union," he noted. "So, it is
only natural that there are certain risks of price growth in Armenia,
in particular on those goods, which we must raise duties on to match
them with the duties in the Customs Union. Sure, it may trigger
certain inflation processes."
"We have assessed this process: if we have no exceptions on goods we
are asking, the maximal inflation level will not exceed 1.4 percent,"
Sarksyan forecasted. "This is not the inflation our opponents are
threatening people with, saying that if we join the Customs Union, we
will have turbulent inflation processes. Things are different:
inflation will be controlled and will not be very high."
"If we reach agreement with our colleagues in the Customs Union on the
terms of exceptions, inflation pressure will be much lighter," he
noted. "On the other hand, it is necessary to speak about the positive
effects our producers, or society will have when we join the Customs
Union."