Tigran Sargsyan: Custons Union platform very close to Armenia’s economy

The economic platform being developed on the Eurasian customs area is very close to Armenia’s economic system, the prime minister has said, introducing the economic advantages of Eurasian integration.

Speaking at a Yerevan-hosted forum devoted to the prospects and challenges of Eurasian integration, Tigran Sargsyan addressed the main motives behind Armenia’s decision to join the Customs Union.

“The [global economic] crisis demonstrated the strong and weak sides of the European Union, as well as the axis around which the European countries are united, and the basic trends of the Eastern Partnership program … The Customs Union, which came into being over this period, managed to prove its viability. The CU economic area demonstrated the platform which is being developed here, and which is very close to our economic system and development level,” he said.

The premier stressed that Armenia cannot choose a new format of relations at the expense of Russia, which is its close strategic ally.

“We denounce any relationship with any partner if that’s going to be at the expense of the relations with another ally,” he added.

Sargsyan further stressed the importance of the CU role as a security guarantor.

“Over the past five years, qualitative changes have taken place in the CSTO [Collective Security Treaty Organization] frameworks. The CSTO has made decisions which strengthen our security guarantees. This is an important component for our political decision,” the premier explained.

As for the potential sovereignty loss linked to the membership in a supranational body, the premier assured that Armenia will enjoy equal rights with the other member states and have an authority to pass decisions that will be powerful enough to affect a broader market with an estimated population of 170 million.

He further referred to the IMF regional director’s remark that Armenia’s membership in the CU will be more positive rather than negative for the country’s economy.


“The first important factor, which will offer advantages to businesses, is the free entry of subjects into the consumer market. The formation of new regimes helps freely realize products and services in this new market,” Sargsyan added.