The Eurasian Economic Union (EAEU, which comprises Armenia Russia, Belarus, Kazakhstan, and Kyrgyzstan) has softened the blows which Armenia had taken as a result of the reduction in the Russian market, News.am reports.
Deputy Prime Minister and Minister of International Economic Integration and Reforms of Armenia, Vache Gabrielyan, noted the abovementioned at Saturday’s joint meeting of the Standing Committee on Foreign Relations of the National Assembly of Armenia and of the Committee on Foreign Affairs of the Federation Council of Russia, in Armenia’s capital city of Yerevan.
“In the beginning of last year, we [i.e. Armenia] conducted a respective analysis, by considering the Moldova, Georgia scenarios, to find what would have happened if we had not joined the EAEU,” said Gabrielyan. “And had this logic worked also in Armenia, we would have had a much worse indicator in exports and economic relations.”
