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Economy

Export from Armenia to EAEU grows at higher rate than overall export on average

The export from Armenia to the countries of the Eurasian Economic Union (EAEU) grows at a higher rate than the overall export on average. In the first 8 months of this year the export to the EAEU states grew by 11% compared to the same period of 2018, but the overall export volume from Armenia increased by 4.6%, Minister of Economy Tigran Khachatryan said during a press conference, noting that, however, the EAEU entire resource is not utilized yet.

Export from Armenia to EAEU grows at higher rate than overall export on average

Export from Armenia to EAEU grows at higher rate than overall export on average

STEPANAKERT, OCTOBER 14,  ARTSAKHPRESS-ARMENPRESS: “In 2018 we have exported goods to the EAEU member states by 20% more compared to 2017. In the 8 months of 2019, we have exported goods to the EAEU states by 11% more than in the same period of 2018, despite the fact that the overall export of goods increased by 4.6%. This means that the export in other directions has not decreased, but a lower growth has been registered”, the minister said.

He stated that Armenia exports more to the EAEU states, and the volumes are growing rapidly with the power of a single customs union. But not all problems are solved, there are objective restrictions. “Businessmen frequently raise the issue why the Armenian exporters at the Lars checkpoint should be subject to the same customs clearance rules that cars from any third party departing for Russia are subject to. And this is a very sensitive issue. We have not yet utilized the whole EAEU resource. And all the benefits that can exist are still ahead, we are working on this path”, the minister said.

He assured that they already have an agreement, a perception by partners that they should think about mechanisms which will ensure that these procedures are more simplified.


     

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