The EAEU Can Become the Core For Continental Economic Integration

• 04.28.2017, 23:04
•  EEU,  World,  Armenia

On April 28, in the "Noravank" Scientific and  Educational Foundation, a round-table discussion was organized under the topic ''The Place and Role of the EAEU in the Multi-Vector World". During the event the activities of integration institutions in the Eurasian space, the prospect of their development and extension as well as the benefits from Armenia’s participation in them were discussed.  

A candidate of Economic Sciences, a member of the Eurasian Expert club, Ashot Tevikyan, an Associate Professor at the Department of International Relations and Diplomacy of the Yerevan State University, a member of the Eurasian Expert club, Grigor Balasanyan, a candidate of historical sciences, an energy and international security affairs specialist, Armen Manvelyan and a Doctor of Economics, Professor, member of the Eurasian Expert club, Ashot Tavadyan delivered reports.

The organizers of the event were "Integration and Development" Research and Analytical CSO, the Eurasian Expert Club and Russian National Fund of Social Assistance Programs.

Ashot Tavadyan underlined the importance of the development of the EAEU’s foreign policy.

"The EAEU member states have a big prospect of an active cooperation with BRICS. The EAEU has all the opportunities to become a complete and competitive international unit, capable of conducting agreed macroeconomic policy, coordinating and correcting monetary policy thus obtaining real financial and economic sovereignty," he noted.

Arman Manvelyan, in his turn, connected the prospect of the EAEU and Eurasian economic integration with the consistent strengthening of the three main directions: enlargement of the EAEU member states, the deepening of the integration within already exiting institutions and the extension of cooperation outside the EAEU. "The EAEU is positioning itself as a core for the continental economic integration and has all the potential to become it," he noted.

Manvelyan agreed to the fact that Armenia’s integration is a preferable choice in case of any strategy for economic development, especially if the optimal development scenario, with the emphasis on the export, is chosen.

Arman Tevikyan presented some statistical data showing that Armenia’s membership to the EAEU contributes to the economic development of the country. Particularly, he noted that in 2016, the level of export from Armenia to the EAEU countries increased by 50.4 percent reaching to 418 million, of which 226-371 million is to RF. Tevikyan concluded:

"Those statistics inspire optimism and give ground to assume that Armenian business has all the prospects to increase its potential of economic development in the EAEU." He also underlined the importance of the institution’s economic and financial sovereignty, and especially emphasized the role of Eurasian Development Bank in it.

Grigor Balasanyan referred to the importance of the transportation routes within the territory of the Eurasian integration, among others also to the importance of separate transportation projects.

"The realization of the united Eurasian transportation strategy will allow the EAEU countries to form a united market of transportation services, which will reduce the time for the transportation of goods, the price for the transportation in the final price of the goods, will rise the mobility of the population and the availability of transportation, will make the territory of the Union economically more attractable for transportation flows," Grigor Balasanyan noted.

In addition, he underlined the idea of the Silk Road Economic Belt as an important direction for the development of the Eurasian Union.

The participants of the round-table were unanimous in their opinion that the EAEU was a project with a big prospective and it is important to develop internal integration as well as foreign relations and partnerships of member states in all possible directions.