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We have to monitor our business competitiveness in CU - Armenia PM
March 29, 2014 | 13:35
YEREVAN. - Armenia needs to monitor its business competitiveness in
the Customs Union (CU).
Armenian Prime Minister Tigran Sargsyan noted the above-said at
Saturday's Second Economic Forum--titled "Armenia-Customs Union:
Opportunities and Challenges"--of the ruling Republican Party.
Sargsyan stated that the average import customs duty is 2.4 percent in
Armenia, whereas this is about three times more in the CU.
As per the PM, the high customs duties of a variety of products may
cause a price increase in Armenia. On the other hand, if Armenia
protects its market within the CU, it will open before local
production and investments.
"We are getting a lot of complaints that the Armenian farmers are
forced to compete with cheap Indian, Brazilian, and American meat.
Such matters should be at our focus," the premier said.
On the other hand, according to Sargsyan, the increase of the customs
duties from third countries can mean a reorientation on the product
demand from the CU. In this regard, problems may arise for those
producers and manufacturers who export products and technology to
non-CU countries.
The PM also noted that Armenia will have to reconsider some of its
World Trade Organization commitments, and therefore negotiations
should start with this institution.
Following the talks that were held on September 3, 2013 in Moscow
between Armenian and Russian Presidents Serzh Sargsyan and Vladimir
Putin, Sargsyan had announced that Armenia plans to join the Customs
Union and subsequently engage in the formation of the Eurasian
Economic Union. In December 2013, the "road map" for Armenia's
accession to the Customs Union was adopted. And in January of this
year, the Government of Armenia approved the action plan for the
implementation of this "road map." The formal joining is expected in
May. Aside from Russia, Belarus and Kazakhstan likewise are members in
the Customs Union.
Photo by Arsen Sargsyan/NEWS.am
News from Armenia - NEWS.am
March 29, 2014 | 13:35
YEREVAN. - Armenia needs to monitor its business competitiveness in
the Customs Union (CU).
Armenian Prime Minister Tigran Sargsyan noted the above-said at
Saturday's Second Economic Forum--titled "Armenia-Customs Union:
Opportunities and Challenges"--of the ruling Republican Party.
Sargsyan stated that the average import customs duty is 2.4 percent in
Armenia, whereas this is about three times more in the CU.
As per the PM, the high customs duties of a variety of products may
cause a price increase in Armenia. On the other hand, if Armenia
protects its market within the CU, it will open before local
production and investments.
"We are getting a lot of complaints that the Armenian farmers are
forced to compete with cheap Indian, Brazilian, and American meat.
Such matters should be at our focus," the premier said.
On the other hand, according to Sargsyan, the increase of the customs
duties from third countries can mean a reorientation on the product
demand from the CU. In this regard, problems may arise for those
producers and manufacturers who export products and technology to
non-CU countries.
The PM also noted that Armenia will have to reconsider some of its
World Trade Organization commitments, and therefore negotiations
should start with this institution.
Following the talks that were held on September 3, 2013 in Moscow
between Armenian and Russian Presidents Serzh Sargsyan and Vladimir
Putin, Sargsyan had announced that Armenia plans to join the Customs
Union and subsequently engage in the formation of the Eurasian
Economic Union. In December 2013, the "road map" for Armenia's
accession to the Customs Union was adopted. And in January of this
year, the Government of Armenia approved the action plan for the
implementation of this "road map." The formal joining is expected in
May. Aside from Russia, Belarus and Kazakhstan likewise are members in
the Customs Union.
Photo by Arsen Sargsyan/NEWS.am
News from Armenia - NEWS.am