Being a member of the Eurasian Economic Union (EAEU), Armenia must actively seek alternative markets for its products, considering the EU and the USA as potential options. This opinion was expressed by public and political figures and experts during a discussion on the topic: "EU-EAEU. Political or Economic Choice" held in Yerevan on June 25.
Economist Suren Parsyan, as reported by the "ARKA" agency, noted that Armenia’s role as a bridge between the West and Russia provides significant opportunities. According to him, Armenia can enhance the quality standards of both its services and products and increase efficiency, particularly in the industrial sector.
"Yes, the Russian market is important to us and holds a significant share, but for development and seeking alternatives, the EU and USA markets are also crucial. We should set this as a goal," he stated.
The expert also emphasized the need to reform the management system that affects the economy. He cited recent years' economic growth, which resulted in substantial profits for the banking sector and oligarchs, but only marginal growth for small and medium-sized businesses.
Former Deputy Speaker of the Armenian Parliament Mikayel Melkumyan pointed out that traditionally, Armenia exported alcohol and food products to Russia, and now, thanks to re-export, equipment and machinery are exported in large volumes. The total trade turnover with Russia reaches $7.6-7.7 billion, compared to $3.6 billion with the EU.
In this context, he questioned whether Armenia has the potential to move towards the EU market. He mentioned that when Armenia had the opportunity to export certain products to the EU preferentially, it did not take advantage of it, and now that opportunity is no longer available.
The former deputy noted that the country cannot be a member of two integrations simultaneously; however, participation in the EAEU does not preclude developing relations with the EU. He indicated that Armenia could play the role of a bridge.
Earlier, BMG reported that Russian Deputy Prime Minister Alexey Overchuk stated the incompatibility of the Eurasian Economic Union (EAEU) and the European Union (EU). He emphasized that the arrival of non-regional players in Armenia would have consequences. This was essentially a response to Armenian authorities' statements about the country’s desire to join the EU.
On June 21, the Armenian Parliament held hearings on the referendum regarding the application for EU membership. On February 29, Speaker of the National Assembly of Armenia Alen Simonyan announced the country’s readiness to become an EU candidate.
On March 13, the European Parliament supported the proposal to consider granting Armenia candidate status for EU membership. On May 14, Armenian Prime Minister Nikol Pashinyan, during a panel discussion at the Copenhagen Democracy Summit, expressed the desire to see Armenia as a member of the European Union this year.
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