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Eurasian Expert Club: the Government of Armenia Should Increase Its Participation in the Governance of the Economy

The government of Armenia should increase its involvement in the governance of the economy also by increasing the number of state enterprises. Experts of the Eurasian Expert Club in Armenia said this during a press-conference that took place on Wednesday.

The head of the NGO "Integration and development" Aram Safaryan said the rise of the state’s participation in the governance of the economy will help to enlarge cooperation with other states of the EAEU and develop the spheres of economy - engineering, also science, etc., the level of which has dropped during the last years.

"Armenia should not become a clashing point of different geopolitical processes," Safaryan said, mentioning, that the conflicts of the West and Russia should not influence the economy of Armenia. He said science, and different branches of economy should be developed in cooperation with other countries, especially, Russia, as well as China, etc.

The Eurasian expert club has conducted two researches on socio-economic processes of Armenia in the context of integration processes, the results are published on the website

According to Safaryan, the members of the Eurasian expert club share the opinion that the trade of fuel should be organized with national currency of the EAEU countries. He also underlined the importance of the efforts to increase the economic attraction of Armenia in the region, and also to establish free trade zone in the border IranArmenia.

"If this point is established, it will be an additional argument to build Iran-Armenia railway," Safaryan said.

On behalf of the Eurasian expert club, Aram Safaryan said "Despite the crisis, economic stagnation Armenia has a real chance to develop new branches of economy not only in the sphere of agriculture, but also in the sphere of high technologies, manufacturing and especially military industry."

A member of the Eurasian expert club, doctor of the economics, Ashot Tadavyan said Armenia should develop economic cooperation with all vectors - EU, EAEU, neighboring countries, etc. The main goal of the Armenian economy should be to increase the export,  supply the internal market and solve the problems of labor market.

Tavadyan said, that the EAEU provides necessary conditions to increase the export from Armenia, but the  results are not satisfying yet.

"Emphasis should be put on the export of finished product, or at least on the semi-finished ones,"Tavadyan said. This will guarantee workplaces and also promote the development of science. On the point of view of the rise of the export and investments, he urged to pay special attention to the fight against corruption.

Another member of the Eurasian expert club, PhD of the economics, Ashot Tebikyan said the economic activity of the Armenian economy on January-June of this year grew by 4.7%. According to the forecasts, the growth of the economy by the end of the year will be 2.5%.

"The April war showed that we need powerful Armenia and only we can build it," Tevikyan said . The main priorities for Armenia should be the revival of the science, technological manufactures and military manufacturing.

He offered to establish an organization, that will mobilize the society with the support of the government and help the process of the modernization of the economy. He also proposed to re-open the Ministry of Industry. 

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