Armenia joined EEU upon most favorable terms – expert opinion

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Armenia joined the EEU upon the most favorable terms, which allow not getting lost among the partners, said the Head of the Economy Department of the CIS Institute Aza Mihranyan in her interview with the "Sputnik-Armenia" radio station on Tuesday.

She noted that the EEU provided the countries with the opportunities that should be taken, for example, the projects under the agreement on Armenia`s joining the EEU would encourage the labor force to return to the republic.

Moreover, as the expert noted, according to the estimations, Armenia could begin importing labor force, receiving migrant workers.

The expert noted that in the current geopolitical situation, the EEU would have quite optimistic perspectives, on condition that all risks were evaluated, and the problems arising between the parties were quickly addressed.

"Within the EEU, Armenia has an opportunity to start developing the industrial sector and to revive the real sector of the economy, which is extremely important, as Armenia will be able to produce very competitive products," said Mihranyan.

According to her, Armenia has quite big opportunities, provided that the government uses all the chances given by the EEU, including those concerning the development of the industrial sector.

"This doesn`t mean that Armenia can sharply increase its share in the total GDP or turnover with the EEU countries, but it can change its competitive presence, take a leading position and be quite competitive, in particular, in narrow industry segments," said Mihranyan.

According to her, the use of competitive niches depends on whether this or that market is ready, and if the Armenian manufacturer is ready, it can press both the Belarusian and the Russian producer.

Kazakhstan, Russia and Belarus signed the EEU Treaty in Astana on May 29, 2014, which entered into force on January 1, 2015. Armenia joined the EEU on January 2, Kyrgyzstan is expected to become member of the union in May.

Text and pictures by AMI NOVOSTI-ARMENIA