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ARMENIA SIGNS UP FOR MOSCOW-LED ECONOMIC UNION
Yahoo News
Oct 10 2014
Armenia on Friday officially signed up to a Russian-led economic
union, cementing a deal that will see the former Soviet country turn
its back on closer ties with Europe.
President Serzh Sarkisian signed the agreement to join the Eurasian
Economic Union at a meeting of regional heads of state in the
Belarusssian capital Minsk.
"We consider the Eurasian Economic Union as the fundamental format
for developing the most predictable and profitable relations for our
country," Sarkisian told the gathering.
The Caucasus nation of 3 million is now set to join Russia, Belarus
and Kazakhstan in the economic bloc when it comes into force at the
start of next year.
The project builds on an existing customs union between those three
countries and has been championed by Russian President Vladimir
Putin as he seeks to restore ties between remnants of the former
Soviet Union.
Under pressure from Moscow, Armenia last year ditched plans to sign
a pact on closer trade and diplomatic ties with the European Union.
Landlocked, and cut off from trade with its neighbouring foes Turkey
and Azerbaijan, Armenia is heavily reliant on its ties to Russia.
Remittances from citizens living there make up a sizeable chunk of
its economy.
It also counts on its ex-Soviet master for arms supplies for its
festering conflict with Azerbaijan over the disputed Nagorny Karabakh
region.
Last November, a move by Ukraine to ditch key political and trade
agreements with the EU in favour of closer Russian ties set off
bloody protests that led to the ouster of Kremlin-backed leader
Viktor Yanukovych.
Russia responded by annexing Crimea from Ukraine in March and throwing
its support behind rebels in the east, but Kiev's new pro-Western
leadership has signed the landmark deal with the EU and sought to
sever institutional ties to its Soviet past.
https://en-maktoob.news.yahoo.com/armenia-signs-moscow-led-economic-union-184826208--finance.html
Yahoo News
Oct 10 2014
Armenia on Friday officially signed up to a Russian-led economic
union, cementing a deal that will see the former Soviet country turn
its back on closer ties with Europe.
President Serzh Sarkisian signed the agreement to join the Eurasian
Economic Union at a meeting of regional heads of state in the
Belarusssian capital Minsk.
"We consider the Eurasian Economic Union as the fundamental format
for developing the most predictable and profitable relations for our
country," Sarkisian told the gathering.
The Caucasus nation of 3 million is now set to join Russia, Belarus
and Kazakhstan in the economic bloc when it comes into force at the
start of next year.
The project builds on an existing customs union between those three
countries and has been championed by Russian President Vladimir
Putin as he seeks to restore ties between remnants of the former
Soviet Union.
Under pressure from Moscow, Armenia last year ditched plans to sign
a pact on closer trade and diplomatic ties with the European Union.
Landlocked, and cut off from trade with its neighbouring foes Turkey
and Azerbaijan, Armenia is heavily reliant on its ties to Russia.
Remittances from citizens living there make up a sizeable chunk of
its economy.
It also counts on its ex-Soviet master for arms supplies for its
festering conflict with Azerbaijan over the disputed Nagorny Karabakh
region.
Last November, a move by Ukraine to ditch key political and trade
agreements with the EU in favour of closer Russian ties set off
bloody protests that led to the ouster of Kremlin-backed leader
Viktor Yanukovych.
Russia responded by annexing Crimea from Ukraine in March and throwing
its support behind rebels in the east, but Kiev's new pro-Western
leadership has signed the landmark deal with the EU and sought to
sever institutional ties to its Soviet past.
https://en-maktoob.news.yahoo.com/armenia-signs-moscow-led-economic-union-184826208--finance.html