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Anti-Russian sanctions not to affect Armenia's benefits from EEU
membership, Armenian lawmaker
YEREVAN, September 2. / ARKA /. Gagik Minasyan, the chairman of an
Armenian parliamentary committee on finance and budget issues,
downplayed today the alleged impact of Western sanctions slapped on
Russia on Armenian economy, saying the sanctions will not affect the
economic benefits of Armenia's accession to the Russia-led Eurasian
Economic Union (EEU).
Speaking to reporters, Minasyan said the Western sanctions will not
hit other members of the trade bloc, but will rather open up to them
quite new opportunities in terms of boosting their exports to Russia.
"First, all duties, both import and export, will be eliminated. Unlike
Armenia that applies only duties on imports, Russia applies also
export duties, which for a country like Armenia are quite large," said
Minasyan.
According to him, it is of particular importance for the Armenian
economy, especially for imports of natural gas, oil and rough
diamonds.
"The next benefit stems form the introduction of common sanitary
standards for animal and plant products. This is very important since
sanitary requirements have become a weighty tool in trade wars in
different countries. Thus, Armenian companies will be able to avoid
troubles at more than 150 million consumer market of the EEU", said
Minasyan.
According to the deputy, another important advantage of Armenia's
membership is the delayed payment of the value added tax.
"After Armenia's accession to the Customs Union, the payment of the
value added tax must be made until the 20th of the following month
after the importation of goods into the country, which gives economic
actors from 20 to 50 days to sell their goods. This is a short period
of time, but in comparison with the current period of one day it is a
good opportunity for businesses having problems with working capital,"
said Minasyan.
On September 1 Russian president Vladimir Putin okayed signing an
agreement with Armenia on its joining the Eurasian Economic Union
(EEU). "To consider it expedient to sign the agreement (on Armenia's
accession), as provided for by the order of heads of state at a
meeting of the Supreme Eurasian Economic Council," a Putin-signed
decree says.
On May 29 Russia, Belarus and Kazakhstan signed in Astana the treaty
on the Eurasian Economic Union that will enter into force on 1 January
2015. Armenian prime minister Hovik Abrahamyan said on July 10 that
the agreement on Armenia's accession would be signed before the end of
October. -0-
http://arka.am/en/news/economy/anti_russian_sanctions_not_to_affect_armenia_s_ben efits_from_eeu_membership_armenian_lawmaker_/#sthash.4IyGzdbB.dpuf
membership, Armenian lawmaker
YEREVAN, September 2. / ARKA /. Gagik Minasyan, the chairman of an
Armenian parliamentary committee on finance and budget issues,
downplayed today the alleged impact of Western sanctions slapped on
Russia on Armenian economy, saying the sanctions will not affect the
economic benefits of Armenia's accession to the Russia-led Eurasian
Economic Union (EEU).
Speaking to reporters, Minasyan said the Western sanctions will not
hit other members of the trade bloc, but will rather open up to them
quite new opportunities in terms of boosting their exports to Russia.
"First, all duties, both import and export, will be eliminated. Unlike
Armenia that applies only duties on imports, Russia applies also
export duties, which for a country like Armenia are quite large," said
Minasyan.
According to him, it is of particular importance for the Armenian
economy, especially for imports of natural gas, oil and rough
diamonds.
"The next benefit stems form the introduction of common sanitary
standards for animal and plant products. This is very important since
sanitary requirements have become a weighty tool in trade wars in
different countries. Thus, Armenian companies will be able to avoid
troubles at more than 150 million consumer market of the EEU", said
Minasyan.
According to the deputy, another important advantage of Armenia's
membership is the delayed payment of the value added tax.
"After Armenia's accession to the Customs Union, the payment of the
value added tax must be made until the 20th of the following month
after the importation of goods into the country, which gives economic
actors from 20 to 50 days to sell their goods. This is a short period
of time, but in comparison with the current period of one day it is a
good opportunity for businesses having problems with working capital,"
said Minasyan.
On September 1 Russian president Vladimir Putin okayed signing an
agreement with Armenia on its joining the Eurasian Economic Union
(EEU). "To consider it expedient to sign the agreement (on Armenia's
accession), as provided for by the order of heads of state at a
meeting of the Supreme Eurasian Economic Council," a Putin-signed
decree says.
On May 29 Russia, Belarus and Kazakhstan signed in Astana the treaty
on the Eurasian Economic Union that will enter into force on 1 January
2015. Armenian prime minister Hovik Abrahamyan said on July 10 that
the agreement on Armenia's accession would be signed before the end of
October. -0-
http://arka.am/en/news/economy/anti_russian_sanctions_not_to_affect_armenia_s_ben efits_from_eeu_membership_armenian_lawmaker_/#sthash.4IyGzdbB.dpuf