Armenian Loss, Azerbaijan Win at Eurasian Economic Union

The withdrawal of Armenia from the Eurasian Economic Union (EAEU) will result in Azerbaijan joining it. This was stated by the Armenian economist Tatul Manaseryan at the parliamentary hearings organized by the Elk faction (“Exit”) on the issue of Armenia’s withdrawal from the Eurasian Economic Union (EAEC).

“The Russian Foreign Minister last week in Baku unequivocally stated that Moscow would be happy to see Azerbaijan in the Eurasian Economic Union. You can not doubt – as soon as Armenia leaves this structure, Azerbaijan will join it. But think, do we really need this? I believe that it’s time to soberly assess the existing realities and analyze the situation properly, Manaseryan said.

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According to the expert, the opposition does not stand up to the criticism and approval of the economic recession, the reason for which, allegedly, was joining the Eurasian Economic Union.

“Every time we talk about the reduction of external investments after joining the Eurasian Economic Union, but we forget that it is necessary, first of all, to stimulate domestic investment. Undoubtedly, external financial injections are very important for the Armenian economy, but for this, it is necessary to create the appropriate investment climate and to interest our own investors, “the expert said.

As for the market for Armenian products, according to him, there were periods when more than half of Armenian exports fell to the share of the European Union. “People have almost fallen into euphoria, they say, exports to Europe are growing. I still warned about the danger of excessive dependence on just one market. We then needed to diversify. That is the reason why the Eurasian Economic Union is vital.

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It should be noted that about 92% of Armenian exports to Russia fall on industrial products – textiles, foodstuffs, spirits, etc. And the growth of exports to Russia last year was 64.2% (from $ 226 to $ 371 million). In contrast to the Russian Federation, commodity turnover between Armenia and the EU is dominated by raw materials, mainly copper-molybdenum ore.