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EEU Membership To Enable Armenia Integrating In Russian Industry

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  • EEU Membership To Enable Armenia Integrating In Russian Industry

    EEU MEMBERSHIP TO ENABLE ARMENIA INTEGRATING IN RUSSIAN INDUSTRY

    YEREVAN, November 21. /ARKA/. Accession to the Eurasian Economic Union
    (EEU) will give Armenia a chance to integrate in the Russian industrial
    environment, head of Armenia's Union of Local Manufacturers Vazgen
    Safaryan said on the air on Sputnik-Armenia radio channel on Thursday,
    as cited by Novosti-Armenia.

    The EU sanctions against Russia made the Russian president turn to
    local producers. In this respect, while joining the EEU, Armenia can
    directly integrate in the Russian market, Safaryan said.

    In particular, according to him, opportunities open up for integrating
    in the Russian high-tech. Today Armenian scientists have certain
    research and development projects that do not materialize because of
    lack of finance, he said.

    Safaryan also noted there are certain agreements with the Russian union
    of machine-builders that set up a mechanical engineering coordination
    council within the EEU, and Armenia is trying to promote its proposals
    in the council and arrange joint production.

    According to the expert, quite favorable conditions are there for
    Armenia as many Russian economists say today the country should turn
    to a new and deeper science and technology industrial policy.

    Industry accounts for about 17% of Armenia's GDP; services are 41%
    and agriculture 19%, and there is great potential for expansion,
    Safaryan said.

    "We have already gained: the fact that Armenia is receiving gas
    at reduced tariffs and enjoys certain preferences in oil product
    supplies, is already an achievement. As to further developments,
    we get an access to a 170-million market, first of all in terms of
    agricultural sales", Safaryan said.

    On October 10 Armenia signed the EEU treaty that comes into effect
    on January 1, 2015. -0--

    http://arka.am/en/news/economy/eeu_membership_to_enable_armenia_integrating_in_ru ssian_industry/#sthash.1W67hGsV.dpuf

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