Armenia will face severe economic consequences if it leaves EAEU: Koltashov

Vasily Koltashov, a political scientist, told Alpha News about the report on the possible economic consequences of Armenia’s exit from the Eurasian Economic Union (EAEU).

In the expert’s opinion, severing economic ties with the EAEU will close a number of markets to Armenian producers and exporters, limit the opportunities of Armenian citizens within the single economic space, and entail negative consequences for the country’s economy.

“The report by members of the Eurasian Economic Union on the consequences of Armenia’s exit from the EAEU reflects deep concern that the course of Nikol Pashinyan is in effect leading to Armenia’s break with the EAEU, or to these relations ending as a result of decisions Yerevan has already made.

In essence, the report warns that markets that were previously open will close to Armenia. This also concerns the ability of Armenian citizens to move within the single economic space. But above all, producers and exporters of goods will suffer.

Armenia is an economy that urgently needs the markets of other countries. The EU will not give Armenia access to its market, and there is no direct route to that market anyway. It has, incidentally, already not accepted either Georgian or Moldovan goods. An exception has been made for some food products from Ukraine, and in large volumes, but that is still not the situation Armenia is in now.

So Armenia will have to bear severe economic consequences. There can be no other consequences for the economy from a break with the EAEU, only negative ones,” Koltashov said.