Samvel Karapetyan, Chairman of the Armenian Entrepreneurs' Association and head of the Tashir Group of Companies, issued a statement emphasizing the critical importance of Armenia's membership in the Eurasian Economic Union (EAEU) amid global economic and geopolitical challenges. This statement came in response to the recent approval by the Armenian government of a bill initiating the process of joining the European Union.
According to Karapetyan, nearly half of Armenia's foreign trade turnover is with EAEU member states, and the prospect of leaving the union has caused significant concern among Armenian business circles in Russia.
The head of Tashir outlined several potential risks if Armenia severs ties with the EAEU. Foremost among them is the complication of exports to union member states, which could deliver a substantial blow to Armenia's investment climate, given that Russia is the primary investor in the country’s economy.
Karapetyan also highlighted the issue of labor migration. Currently, Armenian citizens benefit from preferential working conditions in EAEU countries, and exiting the union could severely hinder their position in the Russian labor market, leading to a reduction in remittances to Armenia.
Another crucial aspect is the country’s energy security. Karapetyan recalled the energy crisis of the 1990s and stressed that EAEU membership provides Armenia with more favorable conditions for energy resource supplies from Russia, which are vital to the nation’s economy. He expressed hope that Armenian authorities fully understand the potential consequences of decisions that could lead the country into a new crisis.
Armenia's plans to join the EU have sparked a strong reaction from Moscow. Russian Foreign Minister Sergey Lavrov, referring to a statement by Russian Deputy Prime Minister Alexey Overchuk, underscored the incompatibility of simultaneous membership in the EAEU and the EU due to differences in customs tariffs and trade policies.
Recently, Overchuk stated that Armenia's discussions on the bill to join the EU are viewed by Russia as the first step toward leaving the EAEU. He estimated that such a decision could result in a significant increase in energy and food prices in Armenia, as well as a 70-80% reduction in Armenian exports.
Earlier, BMG reported that during a government session on January 9, Armenia approved and submitted to parliament a bill titled “On the Initiation of the Process for the Republic of Armenia’s Accession to the European Union.” The initiative, which gathered over 52,000 citizen signatures, was proposed by the “Platform of Democratic Forces,” a coalition of four non-parliamentary parties and several civic initiatives.
Prime Minister Nikol Pashinyan, supporting the initiative, clarified that the bill does not imply automatic EU membership. “The final decision can only be made through a referendum; there is no other option,” stated the Prime Minister, reiterating Armenia’s readiness to pursue closer ties with the EU to the extent Europe deems possible.
