Armenia can become regional electrical energy hub, says Pashinyan

Prime Minister Nikol Pashinyan is confident Armenia can become a regional electrical energy hub which will unite the common market of the Eurasian Economic Union (EAEU) and Iran’s energy system, the PM said this in his opening remarks at the two-day international forum “The transit potential of the Eurasian continent” launched in Yerevan.

“Taking into account its geographical features Armenia is ready to make all efforts to ensure the accessibility of the new markets, the necessary infrastructures and logistics in the context of unavoidable increase of cargo and passenger transportations in the near future. In addition to using the transit potential in the transportation sector Armenia can also become a regional electrical energy hub that will unite the common energy market of the EAEU and Iran’s energy system”, Pashinyan said, expressing confidence that such kind of forums, the exchange of opinions will give an additional impetus to the strengthening of the cooperation also outside the EAEU.

According to the Armenian PM, today’s forum is a good platform to exchange views on the ways to strengthen the commercial ties and establish logistics schemes architecture in the Eurasian space. He expressed hope that based on the discussion results they will be able to better assess the existing opportunities and clarify the mechanisms to overcome the barriers.

PM Pashinyan stated that during Armenia’s chairmanship at the EAEU they have made the maximum efforts to further ensure the positive dynamics of the integration, as well as to solve the issues which can serve as an additional impetus for the economic growth in the member states. In this context he mentioned the development and diversification of the Eurasian transportation infrastructures as one of the key fields.

Pashinyan said historically the Eurasian continent has been a mosaic of trade, economic, cultural and communication processes, and here Armenia also played an important role.

According to the PM, the signing of free trade agreements with Iran, Vietnam, China, Singapore, as well as the upcoming signing of the similar agreements with Serbia, Egypt, India and other countries will not only strengthen the Union’s economic potential, but will also expand the geography of transportation corridors and the transit potential of the continent.