Quitting EAEU contradicts Armenia’s interests, Russian Deputy FM says

It is not beneficial for Armenia to quit the Eurasian Economic Union (EAEU); it contradicts the interests of the country, Russian Deputy Foreign Minister Alexander Pankin told RIA Novosti.

According to Pankin, cooperation as part of the EAEU is efficient for Armenia; over the past few years, the country has been a leader in GDP growth, investments in fixed assets, and construction work within the union.

“All this was largely made possible thanks to the single market within the union, the freedom of labor movement, the simplicity of the procedure for opening enterprises, preferential terms for energy supplies, and so on. Thus, from an economic point of view, membership in the union is certainly beneficial for Yerevan, and quitting, in our opinion, would be contrary to the interests of the country,” the diplomat said.

“The priorities announced by the Prime Minister of Armenia, Nikol Pashinyan, resonate with our approaches to integration construction. We are committed to productive cooperation,” he added.
In early February, Pashinyan, speaking at a meeting of the Eurasian Intergovernmental Council, said that Armenia’s trade turnover with the EAEU countries in 2023 increased by 39% year-over-year to reach about $7.8 billion.