CU membership implies harmonization of laws – Armenian PM

14:59 • 28.10.13
Event

Armenia’s prime minister said Monday that the Customs Union integration process implies certain procedures of bringing the domestic laws in compliance with the supranational body’s legislation.


“That means we have to consider scores of laws and international agreements to harmonize the CU legislation and create an environment that will stimulate our entrepreneurs. [That’s to say], sectoral discussions on the kind of reforms we are going to propose and their possible impact on our entrepreneurs,” Tigran Sargsyan told the parliament while introducing the State Budget for next year.


Addressing the topic, Minister of Finance David Sargsyan said the government is now implementing measures in that direction.


“There are corresponding working groups headed by deputy ministers, which elaborate a timetable. They will clarify the timeframes for Armenia’s application and membership,” he said.


The minister noted at the same time that that the measure implies only an increase in several customs duties. “Naturally, the products which come to Armenia from the Customs Union are cleared of custom, but most of them are tax-exempt, some way or another. The revenue from European countries will have over 2% impact on the customs duties, as the state duties average 2.6% there; the revenues from the united budget will be higher,” Sargsyan explained.


But the minister said the figures do not speak of any final result.


“The final impact on the economy still remains to be seen as we have to work for several months,” he said, ruling out the possibility of an essential inflation.


Sargsyan added that the Russia’s foreign customs tariffs for petroleum and diesel fuel also refer to all the member-states of the Customs Union.


“There is a list with around 100 names, whose export requires customs duties if we are becoming a member of the customs Union and lower prices for the products we use,” he noted.
 

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