Amid the government’s approval of a bill to initiate Armenia’s accession process to the European Union, key ministers from the economic sector clarified the country’s stance on various integration frameworks. According to Minister of Economy Gevorg Papoyan, Armenia is not considering withdrawing from the Eurasian Economic Union (EAEU), and the rapprochement process with the EU is being pursued in parallel.
Speaking at a press conference on January 13, Papoyan emphasized that the primary objective is to enhance the resilience of Armenia’s economy, regardless of its membership in any particular organization. “Our industry must grow, we need to produce more complex goods and offer high-quality services,” he stated.
Minister of Finance Vahe Hovhannisyan, meanwhile, informed journalists that his ministry is analyzing various scenarios and evaluating potential risks. He added that “life is not black and white,” and any decisions require consideration of numerous factors. According to Hovhannisyan, Russia's sharp reaction to Armenia’s European integration aspirations can be attributed to the strained relations between Moscow and Europe.
Statistics reveal that trade relations with the EAEU remain vital for Armenia’s economy. In the first 11 months of 2024, trade turnover with the union increased by 68.3%, reaching $11.9 billion, which accounts for more than 42% of the country’s total foreign trade. In contrast, trade with the EU declined by 14.1% to $2.1 billion, making up 7.5% of the total.
Hovhannisyan also announced the preparation of a new export stimulation program aimed at diversifying trade flows. According to him, the government has been working for two years on expanding export geography through various instruments, and a new initiative in this direction will soon be unveiled.
Earlier, BMG reported that on January 9, the Armenian government approved and sent to parliament a bill titled "On Initiating the Republic of Armenia’s Accession Process to the European Union." The initiative, which gathered over 52,000 citizen signatures, was proposed by the "Platform of Democratic Forces," an alliance of four non-parliamentary parties and several civic initiatives.
Prime Minister Nikol Pashinyan, supporting the initiative, stressed that the bill does not imply automatic EU membership. “The final decision can only be made through a referendum; there are no other options,” the prime minister stated, reiterating Armenia’s readiness to align with the EU to the extent deemed possible by Europe itself.
