EEC Minister K. Minasyan: Short-term goal for Armenia - increasing trade turnover with EEU countries
"The short term task of Armenia within the EEU is to increase the trade turnover with the countries of the Union," K. MInasyan noted at the roundtable titled "The agenda of Armenia within the EEU". "Since the establishment of the Customs Union and up to this moment the trade turnover of Armenia with Belarus, Kazakhstan and Russia has been increasing and grew almost two times. Although, the growth slowed down a little bit over the recent time, we can see the effect anyway. Presently, Armenia is also expected to feel the effect of the increased trade turnover. Moreover, the turnover with Russia is quite high now but the trade turnover with Belarus and Kazakhstan it is at the level of just about 10-20 mln US dollars. It means that there is a potential left unrealized," she said.
On a mid-term horizon, according to the EEC minister, Armenia is supposed to realize all its potential that it possesses in a number of spheres. For example, the country has a significant potential in agriculture as long as favorable weather conditions allow Armenia to grow more fruits and vegetables compared to the other member states and develop the food processing industry. Presently, a great amount of agricultural products from the third countries prevails on the markets of the Union member states. The agricultural products made in Armenia could easily replace them, at least partially. The greenhouse business has been developing rapidly in Armenia in view of the possibility of joining the EEU.
Besides, according to her, the pharmaceutical industry, radiopharmacology of Armenia could be promising directions for development in the EEU. Moreover, she noted that the IT sector and engineering, financial system and jewelry field were well developed in the country.
