Serzh Sargsyan considers positive participation in integration processes from Armenia’s active development perspective

Armenia strives to actively participate in integration processes in the post-Soviet region, thereby multiplying the growth opportunities, 3rd President of Armenia Serzh Sargsyan, the ruling Republican Party’s candidate for Prime Minister, said in an interview to the Russian Izvestiya news agency.

In response to the question what benefit Armenia received by joining the Eurasian Economic Union (EAEU) in 2015, Serzh Sargsyan mentioned two factors. “Armenia has always been interested in integration processes as they help to more actively develop. Secondly, we are always interested in close relations with all countries”, he said.

The 3rd President said by joining the EAEU Armenia became a part of a big market worth 170 million. “Here in case of good work it is possible to be competitive and benefit from that. In any case we saw positive changes already in 2016: the double-digit figure in trade turnover growth was recorded. And in 2017 our trade turnover with the EAEU member states increased by almost 26%. Our export to the EAEU countries increased both in 2016 (53.7%) and 2017 (41%). These are good figures. I don’t say that the situation is perfect. The organization is still at the development stage. And there are still obstacles in the free movement of goods, services, capital and labor force. But no organization could ever reach perfection in 2-3 years. We will continue working”, Sargsyan said.

Asked what Armenian goods are the most demanded in the EAEU markets and especially in Russia, Serzh Sargsyan said this list in reality is quite big. “Vegetables, fruits both fresh and processed, mineral water, wine, brandy, jewelry, textile, tobacco, as well as pharmaceutical products and the products of mining industry. I once again want to repeat that 37% share of GDP belongs to export of goods and services, this is a good figure”, he said, adding that Armenia has set a goal before it to reach the export of goods to 40-50% up to 2022 and 50% up to 2030.

Serzh Sargsyan said this will give the country a macro-economic stability. “In addition, the economy’s structure also changes. The share of industry and services also increased. Such trends are very useful, and I think the potential has not been completely utilized here. I even can state that we have utilized only a small part of it as of now”, Serzh Sargsyan noted.