Armenia's participation in the EAEU is beneficial from an economic point of view, Russian Deputy Foreign Minister Alexander Pankin said.
"Armenia is the chair of the EAEU this year and performs the chairmanship functions. Armenia, like all EAEU members, benefits from participation," he told journalists after a session at the international economic forum "Russia - Islamic World: KazanForum," as reported by RIA Novosti.
"It's a big market, a large sales market, various technological industrial cooperations, projects... The fact that these are mutually beneficial projects is definite. This is statistically confirmed by various indicators of Armenia's economy, involvement in commodity flows, and production cooperations," Pankin added.
BMG reported that Russia maintains leadership in Armenia's foreign trade turnover, with a volume of over $7.3 billion in 2023. In January-March of the current year, trade turnover with Russia increased by 2.4 times, amounting to $3.7 billion in monetary terms.
The EAEU is an international integration economic union established on January 1, 2015. Its members are Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. It is one of the largest economic unions with the free movement of goods, services, capital, and labor.
