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Russian deputy PM warns Armenia about trade losses with EAEU in case of EU membership

29 January 2025 17:57

Russian Deputy Prime Minister Alexei Overchuk has said that discussions suggesting that Armenia could remain in the Eurasian Economic Union (EAEU) while simultaneously joining the EU are unfeasible.

"Opening markets to European countries would mean closing them for Armenia with EAEU member states," he noted, Caliber.Az reports via Russian media. 

"For us, of course, this is a signal that the start of joining the EU is the beginning of exiting the EAEU. This is absolutely clear to anyone who knows the structure of these two integration unions. Those who are currently claiming, as I know, in discussions in Armenia, that a solution can be found, are misleading the Armenian people," Overchuk said.

"Opening markets with the EU will mean closing markets with the Eurasian Economic Union, otherwise our producers within the EAEU will suffer. This is obvious: the elimination of import tariffs with the EU will automatically mean returning to customs duties and tariffs with the EAEU," he added. 

Overchuk noted that the Armenian side knows about the consequences.

"There should be no illusions on anyone's part," the Russian deputy prime minister said.

He reiterated that, based on macroeconomic indicators and mutual trade data within the EAEU, Armenia is the primary beneficiary of its participation in the union. 

"Last year, trade turnover between Armenia and the EAEU member states amounted to $12 billion, which is several times bigger than Armenia's trade volume with the EU. Moreover, trade turnover with the EAEU member states is growing, while trade turnover with the EU is shrinking, which shows the real state of affairs in the economy," the Russian deputy prime minister said.

Overchuk refrained from commenting on the potential stages of Armenia's de-integration from the EAEU, suggesting to wait for the results of the discussions in the Armenian parliament regarding the bill to start the process of joining the EU.

On January 9, the Armenian government approved a bill on the country’s accession to the EU, officially launching the process. Last week, the Armenian Parliament's Standing Committee on European Integration also endorsed the bill. The document is expected to be presented for discussion in the National Assembly in early February. The final decision on Armenia’s EU membership will be made through a national referendum.

By Naila Huseynova

Caliber.Az
Views: 508

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